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Gov't deficit to GDP ratio goes down in Eurozone, EU

Xinhua, April 25, 2017 Adjust font size:

The seasonally-adjusted general government deficit to gross domestic product (GDP) ratio stood at 1.4 percent in both the 19-member eurozone and the wider European Union (EU) in the last quarter of 2016, official data showed Tuesday.

The reading marked some consistent decrease for the bloc in the aftermath of debt crisis in 2009. In the previous quarter, the figures were 1.6 percent and 1.7 percent in eurozone and the EU respectively, according to the EU's statistics agency Eurostat.

In the fourth quarter of 2016, total government revenue in the single currency zone amounted to 46.1 percent of GDP, a decrease compared with 46.4 percent in the third quarter of 2016. Total government expenditure in the euro area stood at 47.5 percent of GDP, a decrease compared with the previous quarter (48.0 percent of GDP), said Eurostat.

In the 28-member EU, total government revenue was 44.9 percent of GDP in the fourth quarter of 2016, compared with 45.1 percent in the third quarter of 2016. Total government expenditure was 46.3 percent of GDP, compared with 46.8 percent in the previous quarter, the agency added. Endit