The budget deficit in the 17 euro countries in 2012 was 3.7 per cent of gross domestic product on average, as against 4.2% in 2011. In the EU28, the budget deficit was 3.9% of GDP, as against 4.4% in 2011.
In Croatia, according to the first fiscal report compiled by the State Bureau of Statistics, the budget deficit, according to Eurostat's methodology, was 5% of GDP in 2012, as against 7.8% in 2011.
This shows that the share of Croatia's budget deficit in GDP, as well as the deficit's average share in the euro area and the EU as a whole, is above the maximum three per cent stipulated by the Maastricht criteria.
In Croatia, the public debt's share in GDP in late 2012 was 55.5%, as against 51.6% at the end of 2011. This shows that Croatia is within the maximum limit stipulated by the Maastricht criteria of 60%.
The public debt in the 17 euro area countries at the end of 2012 was 90.6% of GDP on average, as against 87.3% at the end of 2011. In the EU28, it reached 85.1% of GDP, as against 82.3% at the end of 2011.
Croatia is in a group of 15 countries which improved the budget balance in comparison to 2011 by reducing the deficit.