129-2-21102011-AP-EN

129-2-21102011-AP-EN - 153/2011 - 21 October 2011 Provision...

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Unformatted text preview: 153/2011 - 21 October 2011 Provision of deficit and debt data for 2010 - second notification Euro area and EU27 government deficit at 6.2% and 6.6% of GDP respectively Government debt at 85.4% and 80.2% In 2010, the government deficit 1 of the euro area 2 (EA17) increased and that of the EU27 decreased in absolute terms compared with 2009, while the government debt 1 and GDP rose in both zones. In the euro area the government deficit to GDP ratio decreased slightly from 6.4% in 2009 3 to 6.2% in 2010, and in the EU27 from 6.9% to 6.6%. In the euro area the government debt to GDP ratio increased from 79.8% at the end of 2009 to 85.4% at the end of 2010, and in the EU27 from 74.7% to 80.2%. 2007 2008 2009 2010 Euro area (EA17) GDP market prices (mp) (million euro) 9 030 198 9 244 306 8 930 927 9 161 696 Government deficit (-) / surplus (+) (million euro) -62 044 -196 966 -571 457 -572 526 (% of GDP) -0.7 -2.1 -6.4 -6.2 Government expenditure (% of GDP) 45.9 47.1 51.1 50.9 Government revenue (% of GDP) 45.2 44.9 44.7 44.6 Government debt (million euro) 5 989 195 6 481 274 7 125 902 7 822 443 (% of GDP) 66.3 70.1 79.8 85.4 EU27 GDP mp (million euro) 12 397 519 12 465 271 11 750 700 12 246 904 Government deficit (-) / surplus (+) (million euro) -110 314 -302 420 -810 475 -805 008 (% of GDP) -0.9 -2.4 -6.9 -6.6 Government expenditure (% of GDP) 45.6 47.1 51.0 50.6 Government revenue (% of GDP) 44.7 44.7 44.1 44.1 Government debt (million euro) 7 315 316 7 791 183 8 779 402 9 816 372 (% of GDP) 59.0 62.5 74.7 80.2 In 2010 the largest government deficits in percentage of GDP were recorded in Ireland (-31.3%), Greece (-10.6%), the United Kingdom (-10.3%), Portugal (-9.8%), Spain (-9.3%), Latvia (-8.3%), Poland (-7.8%), Slovakia (-7.7%), France (-7.1%), Lithuania (-7.0%) and Romania (-6.9%). The lowest deficits were recorded in Luxembourg (-1.1%), Finland (-2.5%) and Denmark (-2.6%). Estonia and Sweden (both 0.2%) registered a slight government surplus in 2010. In all, 21 Member States recorded an improvement in their government balance relative to GDP in 2010 compared with 2009, five a worsening and one remained unchanged. At the end of 2010, the lowest ratios of government debt to GDP were recorded in Estonia (6.7%), Bulgaria (16.3%), Luxembourg (19.1%), Romania (31.0%), the Czech Republic (37.6%), Lithuania (38.0%), Slovenia (38.8%) and Sweden (39.7%). Fourteen Member States had government debt ratios higher than 60% of GDP in 2010: Greece (144.9%), Italy (118.4%), Belgium (96.2%), Ireland (94.9%), Portugal (93.3%), Germany (83.2%), France (82.3%), Hungary (81.3%), the United Kingdom (79.9%), Austria (71.8%), Malta (69.0%), the Netherlands (62.9%), Cyprus (61.5%) and Spain (61.0%)....
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This note was uploaded on 02/08/2012 for the course FIN FIN4345 taught by Professor Koij during the Spring '10 term at FIU.

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129-2-21102011-AP-EN - 153/2011 - 21 October 2011 Provision...

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