Euro area government deficit-to-GDP ratio in 2023 was 3.6%, down from 3.7% in 2022; government debt-to-GDP ratio decreased to 88.6% in 2023 from 90.8% in 2022: Eurostat

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LUXEMBOURG , April 22, 2024 (press release) –

Government debt at 88.6% and 81.7% respectively

Overview
In the euro area the government deficit to GDP ratio declined from 3.7% in 2022 to 3.6% in 2023, and in the EU it increased from 3.4% to 3.5%. In the euro area the government debt to GDP ratio decreased from 90.8% at the end of 2022 to 88.6% at the end of 2023, and in the EU from 83.4% to 81.7%.

In this release, Eurostat, the statistical office of the European Union, is providing government deficit and debt data for the years 2020-2023, based on figures reported by EU Member States in the first notification in 2024, for the application of the excessive deficit procedure (EDP). This notification is based on the ESA 2010 system of national accounts. This release also includes data on government expenditure and revenue.

Deficit and debt data for Euro area and EU

More share options
		2020	2021	2022	2023
Euro area
GDP market prices (mp)	(million euro)	11 517 404	12 474 998	13 507 777	14 376 500
Government deficit (-) / surplus (+)	(million euro)	-807 968	-653 227	-494 407	-516 257
	% of GDP	-7.0	-5.2	-3.7	-3.6
Government expenditure	% of GDP	53.5	52.3	50.6	50.0
Government revenue	% of GDP	46.5	47.1	47.0	46.4
Government debt	(million euro)	11 195 998	11 821 032	12 268 150	12 732 445
	% of GDP	97.2	94.8	90.8	88.6
EU
GDP market prices (mp)	(million euro)	13 471 284	14 639 978	15 921 122	16 970 312
Government deficit (-) / surplus (+)	(million euro)	-902 648	-693 145	-537 365	-593 986
	% of GDP	-6.7	-4.7	-3.4	-3.5
Government expenditure	% of GDP	52.9	51.4	49.7	49.4
Government revenue	% of GDP	46.2	46.7	46.3	45.9
Government debt	(million euro)	12 127 760	12 799 268	13 282 868	13 862 584
	% of GDP	90.0	87.4	83.4	81.7

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