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The Euro Area General Government Deficit Reached 11.6 Percent Of GDP
The euro area general government deficit reached 11.6 percent of the monetary union's gross domestic product (GDP) in the second quarter.
Yazar: Tom Roberts
Yayınlanma: 23 Ekim 2020 02:21
Güncellenme: 4 Kasım 2024 01:37
The Euro Area General Government Deficit Reached 11.6 Percent Of GDP
The euro area general government deficit reached 11.6 percent of the monetary union's gross domestic product (GDP) in the second quarter. The European Union recorded a deficit of 11.4 percent in a period characterized by economic constraints in the fight against the spread of coronavirus. According to data released on Thursday by the EU's statistical office, Eurostat, budget deficits were in both cases the highest in the history of data collection. In Slovakia, public finances showed a deficit of 7.3 percent between April and June. This represents an increase from 2.9 percent in the previous quarter. The deficit also increased year on year, as in the second quarter of last year it was at the level of 0.4 percent. At the end of the second quarter, euro area public debt stood at 95.1% of GDP, up from 86.3% of the previous quarter. Debt also increased compared to the second quarter of 2019, when it represented 86.2% of GDP. Across the EU, public debt rose from 79.4 percent to 87.8% of GDP quarter on quarter. It also increased year on year, reaching 79.7% of GDP in the second quarter of 2019. Slovakia's public debt stood at 60.2 percent of GDP at the end of the second quarter of 2020, up from 49.6 percent of GDP in the first quarter. It also increased compared to the second quarter of 2019, when it was at the level of 49 percent of GDP.İLGİLİ HABERLER
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