The government deficit of both the euro area and the EU27 decreased in 2010 compared with 2009 while the government debt and GDP increased, the latest data of Eurostat, the statistical office of the European Union showed.
In the euro area the government deficit to GDP ratio decreased from 6.3% in 2009 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% to 85.1% by the end of 2010, and in the EU27 from 74.4% to 80.0%.
In 2010 the largest government deficits in percentage of GDP were recorded in Ireland (-32.4%), and Greece (-10.5%) while the lowest deficits were recorded in Luxembourg (-1.7%) and Finland (-2.5%).
At the end of 2010, the lowest ratios of government debt to GDP were recorded in Estonia (6.6%) and Bulgaria (16.2%). Hungary with its government debt at 80.2% is among the fourteen EU countries that had government debt ratios higher than 60% of GDP in 2010 and is accompanied by countries such as Belgium (96.8%), Ireland (96.3%) or France (81.7%).
According to Eurostat, in 2010, government expenditure in the euro area was equivalent to 50.4% of GDP and government revenue 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.