The government deficit to GDP ratio in the Euro Area fell to 3.6 percent in 2022 from an upwardly revised 5.3 percent in 2021, the first 2023 notification by EU Member States for the application of the excessive deficit procedure (EDP) showed. Amongst the largest Eurozone economies, the largest budget gaps were recorded in Italy (-8.0 percent vs -9.0 percent in 2021), Spain (-4.8 percent vs -6.9 percent) and France (-4.7 percent vs -6.5 percent). Germany posted a smaller 2.6 percent deficit (vs -3.7 percent in 2021), while the Netherlands reported its general government sector being in balance. Considering the European Union as a whole, the government deficit to GDP dropped to 3.4 percent from 4.8 percent. source: EUROSTAT
Government Budget in Euro Area averaged -3.04 percent of GDP from 1995 until 2022, reaching an all time high of -0.40 percent of GDP in 2018 and a record low of -7.30 percent of GDP in 1995. This page provides - Euro Area Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Government Budget - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.
Government Budget in Euro Area is expected to reach -3.60 percent of GDP by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Government Budget is projected to trend around -3.40 percent of GDP in 2024 and -2.80 percent of GDP in 2025, according to our econometric models.