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Eurostat: Croatia among EU countries with lowest deficit to GDP ratios

Author: Vojo Micak

ZAGREB, April 24 (Hina) - Last year Croatia was among the EU countries with the lowest government deficit to GDP ratios and among 16 countries whose debt exceeded 60 percent of GDP, according to data published by Eurostat on Monday.

In 2016, the lowest government deficits as a percentage of GDP were recorded in Ireland (-0.6%), Croatia (-0.8%) and Denmark (-0.9%). Four member states had deficits equal to or higher than 3% of GDP: Spain (-4.5%), France (-3.4%), Romania and the United Kingdom (both -3.0%).

A government surplus was registered by Luxembourg (+1.6%), Malta (+1.0%), Sweden (+0.9%), Germany (+0.8%), Greece (+0.7%), the Czech Republic (+0.6%), Cyprus and the Netherlands (both +0.4%), Estonia and Lithuania (both +0.3%), while Bulgaria and Latvia reported a government balance.

With government debt of 84.2% of GDP in 2016, Croatia was among 16 member states with government debt ratios exceeding 60% of GDP.

The highest ratios of government debt to GDP were recorded in Greece (179.0%), Italy (132.6%), Portugal (130.4%), Cyprus (107.8%) and Belgium (105.9%), while the lowest were registered in Estonia (9.5%), Luxembourg (20.0%), Bulgaria (29.5%), the Czech Republic (37.2%), Romania (37.6%) and Denmark (37.8%).

In 2016, the government deficit and debt of both the 28-member EU and the 19-member euro area decreased in relative terms compared with 2015.

In the EU28 the government deficit to GDP ratio fell from 2.4% in 2015 to 1.7% in 2016 and the government debt to GDP ratio from 84.9% to 83.5%. In the euro area the government deficit to GDP ratio fell from 2.1% to 1.5% and the government debt to GDP ratio from 90.3% to 89.2%.

(Hina) vm

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