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Euro area and EU27 government deficit at 6.0% and 6.4% of GDP respectively. Government debt at 85.1% and 80.0%.

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In 2010, the government deficit of both the euro area (EA17) and the EU27 decreased compared with 2009, while the government debt and GDP increased. In the euro area the government deficit to GDP ratio decreased from 6.3% in 20093 to 6.0% in 2010, and in the EU27 from 6.8% to 6.4%. In the euro area the government debt to GDP ratio increased from 79.3% at the end of 2009 to 85.1% at the end of 2010, and in the EU27 from 74.4% to 80.0%.

         2007    2008    2009    2010  
 Euro area (EA17)                    
  GDP market prices (mp)    (million euro)    9 035 939    9 264 270    8 970 953    9 204 316 
  Government deficit (-) / surplus (+)    (million euro)    -60 082    -188 988    -566 680    -550 481 
     (% of GDP)    -0.7    -2.0    -6.3    -6.0 
  Government expenditure    (% of GDP)    45.9    46.9    50.8    50.4 
  Government revenue    (% of GDP)    45.2    44.8    44.5    44.4 
  Government debt    (million euro)    5 984 848    6 472 881    7 116 276    7 837 207 
     (% of GDP)    66.2    69.9    79.3    85.1 
 EU27                    
  GDP mp    (million euro)    12 398 526    12 494 352    11 788 046    12 280 644 
  Government deficit (-) / surplus (+)    (million euro)    -108 011    -296 010    -803 807    -784 107 
     (% of GDP)    -0.9    -2.4    -6.8    -6.4 
  Government expenditure    (% of GDP)    45.6    46.9    50.8    50.3 
  Government revenue    (% of GDP)    44.8    44.6    44.0    44.0 
  Government debt    (million euro)    7 310 759    7 782 775    8 768 748    9 828 232 
     (% of GDP)    59.0    62.3    74.4    80.0 

 In 2010 the largest government deficits in percentage of GDP were recorded in Ireland (-32.4%), Greece (-10.5%), the United Kingdom (-10.4%), Spain (-9.2%), Portugal (-9.1%), Poland (-7.9%), Slovakia (-7.9%), Latvia (-7.7%), Lithuania (-7.1%) and France (-7.0%). The lowest deficits were recorded in Luxembourg (-1.7%), Finland (-2.5%) and Denmark (-2.7%). Estonia (0.1%) registered a slight government surplus in 2010 and Sweden (0.0%) was in balance. In all, 21 Member States recorded an improvement in their government balance relative to GDP in 2010 compared with 2009 and six a worsening.

At the end of 2010, the lowest ratios of government debt to GDP were recorded in Estonia (6.6%), Bulgaria (16.2%), Luxembourg (18.4%), Romania (30.8%), Slovenia (38.0%), Lithuania (38.2%), the Czech Republic (38.5%) and Sweden (39.8%). Fourteen Member States had government debt ratios higher than 60% of GDP in 2010: Greece (142.8%), Italy (119.0%), Belgium (96.8%), Ireland (96.2%), Portugal (93.0%), Germany (83.2%), France (81.7%), Hungary (80.2%), the United Kingdom (80.0%), Austria (72.3%), Malta (68.0%), the Netherlands (62.7%), Cyprus (60.8%) and Spain (60.1%).

In 2010, government expenditure in the euro area was equivalent to 50.4% of GDP and government revenue4 to 44.4%. The figures for the EU27 were 50.3% and 44.0% respectively. In both zones, the government expenditure ratio decreased between 2009 and 2010, while the government revenue ratio remained almost unchanged.

 

Government deficit 2007 2008 2009 2010
[million EUR]        
  Belgium  -1,033    -4,345    -19,981    -14,355  
  Germany  6,550    2,820    -72,910    -81,630  
  Ireland  128    -13,196    -22,795    -49,903  
  Greece  -14,524    -23,121    -36,306    -24,193  
  Spain  20,066    -45,189    -117,306    -98,227  
  France  -51,557    -64,299    -142,540    -136,525  
  Italy  -23,541    -42,705    -81,741    -71,211  
  Portugal  -5,333    -6,081    -17,039    -15,783  
[million GBP]        
  United Kingdom  -38,324    -72,651    -158,638    -151,001  

 

Government debt 2007 2008 2009 2010 % 2007-2010
[million EUR]          
  Belgium  282,106    309,191    326,371    341,019   21%
  Germany  1,578,814    1,644,138    1,760,753    2,079,629   32%
  Ireland  47,361    79,837    104,782    148,074   213%
  Greece  239,364    262,318    298,706    328,588   37%
  Spain  380,661    433,611    561,319    638,767   68%
  France  1,211,563    1,318,601    1,492,746    1,591,169   31%
  Italy  1,602,115    1,666,603    1,763,864    1,843,015   15%
  Portugal  115,587    123,108    139,945    160,470   39%
[million GBP]          
  United Kingdom  624,700    785,979    970,472    1,162,635    

 

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