Euro Zone Gov’t deficit drops to 1.5%, - Hungary’s highest in 2006
The government deficit in the Euro area decreased to 1.5% of GDP in 2006, the Eurostat said Monday.
The government deficit stood at 2.5% of GDP in 2005. Meanwhile, the government deficit in the EU27 declined to 1.6% of GDP in 2006 from 2.4% in the prior year. The government debt to GDP ratio dropped to 68.6% at the end of 2006 from 70.3% in 2005 and it fell to 61.4% in EU27 from 62.7% in the previous year. The largest government deficits in percentage of GDP were recorded by Hungary, followed by Italy, Portugal and Poland.
Among the member states, 21 members registered an improved government balance relative to GDP, while it worsened in five states. The lowest ratios of government debt to GDP were registered in Estonia, Luxembourg, Latvia and Romania. In the euro area, the government expenditure was equivalent to 47.2% of GDP, and government revenue to 45.6%. In both Euro area and EU27, the government expenditure ratio declined slightly, while revenue ratio improved. (rttnews)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.