July 24, 2018
According to the latest report published by Eurostat, the statistical office of the European Union, “In the first quarter of 2018, the seasonally adjusted general government deficit to GDP ratio stood at 0.1% in the euro area (EA19), a decrease compared with 0.6% in the fourth quarter of 2017.” However, in the EU28, the deficit to GDP ratio was at 0.5%, a decrease compared with 0.6% in the previous quarter.
Government Revenue and Expenditure for the Euro Area and EU28
There was an increase in the first quarter of 2018, as total government revenue in the Euro Area amounted to 46.3% of GDP while the fourth quarter in 2017 totalled to 46.1%. On the other hand, there was a decrease in the total government expenditure to 46.4% of GDP from 46.8% in the previous quarter.
Furthermore, in the EU28, 44.8% of GDP was reflected as total government revenue for the first quarter in 2018 while 44.9% in the quarter prior. Total government expenditure was 45.4% of GDP compared with 45.6% in the previous quarter.
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