Government deficit to GDP ratio -1.8% in euro areaStaff writer ▼ | January 25, 2016
In the third quarter of 2015, the seasonally adjusted general government deficit to GDP ratio stood at -1.8% in the euro area (EA-19), according to Eurostat.
Europe According to Eurostat:
Both total revenue and expenditure exhibit a clear seasonality. In order to interpret trends for the most recent quarters, seasonally adjusted data is presented in addition to the raw data transmitted by EU Member States (see explanation below).
In the third quarter of 2015, total government revenue in the euro area amounted to 46.5% of GDP, stable compared with the second quarter of 2015. Total government expenditure in the euro area stood at 48.3% of GDP, compared with 48.7% of GDP in the previous quarter.
In the EU28, total government revenue was 44.9% of GDP in the third quarter of 2015, compared with 44.8% in the second quarter of 2015. Total government expenditure in the EU28 was 47.1% of GDP, compared with 47.4% in the previous quarter.
From the fourth quarter of 2010 onwards, a decrease in the level of the total expenditure-to-GDP ratio is visible, reflecting an absolute decrease in total expenditure as well as the effects of renewed growth in the EU and the euro area (all seasonally adjusted).
In the fourth quarter of 2012 and in the second quarter of 2013, total expenditure increased slightly in both areas, influenced by interventions to support the banking sector in several Member States, notably in Spain in the fourth quarter of 2012 and in Greece in the second quarter of 2013. ■