The Statistical Office of the EU, EUROSTAT released data concerning the indebtness of the EU countries. The government deficit of both EU27 and the euro area fell in absolute terms compared with 2011. The government deficit in the EU27 fell from 4.4% to 4.0%, while in the euro area it decreased from 4.2% to 3.7%. However, the government debt to GDP ratio increased in both areas. The EU27 government debt ratio was 85.3% in 2012, compared to 82.5% in 2011. The euro area debt ratio increased to 90.6% at the end of 2012, compared to 87.3% in 2011.
The lowest government deficit ratios were recorded in Estonia (-0.3), Sweden (-0.5%) and in Bulgaria and Luxembourg (both -0.8). The only country registered a government surplus – German government surplus reached 0.2%. The highest government deficits were recorded in Spain (-10.6%), Greece(-10.0%), Ireland (-7.6%), Portugal (-6.4%), Cyprus and the United Kingdom (both -6.3%).
The lowest government debt-to-GDP ratios were measured in Estonia (10.1%), Bulgaria (18.5%), Luxembourg (20.8%) and Romania (37.8%). Countries with the highest indebtness ratio were Greece (156.9%), Italy (127.0%), Portugal (123.6%) and Ireland (117.6%).
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