Eurozone Budget Deficit Falls to 3.1% in 2024
In 2024, the government deficit to GDP ratio in the Euro Area decreased to 3.1% from a revised 3.5% in 2023. Among the member states, twelve reported deficits at or above 3% of GDP. Notably, Denmark (+4.5%), Ireland and Cyprus (both +4.3%), Greece (+1.3%), Luxembourg (+1.0%), and Portugal (+0.7%) did not report a deficit. Romania (-9.3%), Poland (-6.6%), France (-5.8%), and Slovakia (-5.3%) registered the highest deficits. Government expenditure in the Eurozone accounted for 49.6% of GDP, while government revenue stood at 46.5%. Both figures showed an increase compared to the previous year, 2023.
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