21/04/2015 Press Release
In 2015, the government deficit and debt of both the euro area (EA19) and the EU28 decreased in relative terms compared with 2014.
In the euro area the government deficit to GDP ratio fell from 2.6% in 2014 to 2.1% in 2015, and in the EU28 from 3.0% to 2.4%. In the euro area the government debt to GDP ratio declined from 92.0% at the end of 2014 to 90.7% at the end of 2015, and in the EU28 from 86.8% to 85.2%.
In this release, Eurostat, the statistical office of the European Union, is providing government deficit and debt data based on figures reported in the first 2016 notification by EU Member States for the years 2012-2015, 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.
In 2015, Luxembourg (+1.2%), Germany (+0.7%) and Estonia (+0.4%) registered a government surplus, while Sweden (0.0%) reported a government balance. The lowest government deficits as a percentage of GDP were recorded in Lithuania (-0.2%), the Czech Republic (-0.4%), Romania (-0.7%) and Cyprus (-1.0%). Seven Member States had deficits equal to or higher than 3% of GDP: Greece (-7.2%), Spain (-5.1%), Portugal and the United Kingdom (-4.4% each), France (-3.5%), Croatia (-3.2%) and Slovakia (-3.0%). At the end of 2015, the lowest ratios of government debt to GDP were recorded in Estonia (9.7%), Luxembourg (21.4%), Bulgaria (26.7%), Latvia (36.4%) and Romania (38.4%). Seventeen Member States had government debt ratios higher than 60% of GDP, with the highest registered in Greece (176.9%), Italy (132.7%), Portugal (129.0%), Cyprus (108.9%) and Belgium (106.0%). In 2015, government expenditure in the euro area was equivalent to 48.6% of GDP and government revenue to 46.6%. The figures for the EU28 were 47.4% and 45.0% respectively. In both zones, the government expenditure and government revenue ratios decreased between 2014 and 2015
Reservations on reported data Belgium:
Eurostat is expressing a reservation on the quality of the data reported by Belgium in relation to the sector classification of hospitals. Eurostat considers that, in line with ESA 2010, government controlled hospitals in Belgium should be classified inside government. This is currently not the case. A future reclassification will most likely result in a limited increase in government debt. France: Eurostat is expressing a reservation on the quality of the data reported by France in relation to two issues. First, the sector classification of the French Deposit Guarantee and Resolution Funds (Fonds de garantie des Dépôts et de Résolution - FGDR) in 2015 which will most likely result in a limited increase in government debt and a limited decrease in government deficit. Second, the recording of settlement costs related to the restructuring of complex debt instruments undertaken by local government which will most likely result in a limited increase in government deficit for the year 2015.
Hungary: Eurostat is expressing a reservation on the quality of the data reported by Hungary in relation to the sector classification of Eximbank (Hungarian Export-Import Bank Plc). Eximbank needs to be reclassified inside the general government sector which will result in an increase in government debt. Eurostat, in cooperation with these national statistical authorities, will clarify the issues and assess the impacts during the coming months. Austria: Eurostat is withdrawing the reservation on the quality of the data expressed in Eurostat's News Release of 21 October 2015. Amendment by Eurostat to reported data Eurostat has made no amendments to the data reported by Member States.
page source http://ec.europa.eu/eurostat
Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 eurostat-pressoffice@ec.europa.eu
