Eurozone government debt hit 90.9% in 2013

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The eurozone overall level of government debt hit 90.9% in 2013, according to Eurostat, the statistical office of the European Union.

As per government deficit, the eurozone reported an overall 2.9% ratio to GDP.

Looking at a regional breakdown, Luxembourg (+0.6%) and Germany (+0.1%) registered a government surplus.

However, the lowest government deficits in percentage of GDP were recorded in Estonia (-0.5%), Denmark (-0.7%), Latvia  (-0.9%), Bulgaria (-1.2%), Czech Republic and Sweden (both -1.3%), Eurostat said.

Ten Member States had deficits higher than 3% of GDP: Slovenia (-14.6%), Greece (-12.2%), Spain (-6.8%), the United Kingdom (-5.8%), Ireland  (-5.7%), Croatia (-5.2%), Cyprus and Portugal (both -4.9%), France (-4.1%) and Poland (-4.0%).

Estonia recorded the lowest government debt ratio to GDP (10.1%), followed by Bulgaria (18.3%), Luxembourg (23.6%), Romania (37.9%), Latvia (38.2%), Sweden (38.6%), Lithuania (39.0%), Denmark (45.0%) and Czech Republic (45.7%).

Greece ranked first among the countries with government debt ratios to GDP higher than 60%,  with 174.9%. It was followed by Portugal (128.0%), Italy (127.9%), Ireland (123.3%), Belgium (104.5%) and Cyprus (102.2%).

In 2013, government expenditure in the eurozone was equivalent to 49.4% of GDP and government revenue to 46.5%, Eurostat also revealed.


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