aA
In 2014, Lithuania posted the smallest budget deficit among member-states of the European Union (EU), barr countries that reported surplus, the EU's statistics office Eurostat said.
Lithuania's budget deficit among smallest in EU in 2014
© DELFI / Mindaugas Ažušilis

In 2014, the government deficit of both the euro area (EA19) and the EU28 decreased in absolute terms compared with 2013, while the government debt rose in both zones. In the euro area the government deficit to GDP ratio decreased from 2.9 percent in 2013 to 2.4 percent in 2014, and in the EU28 from 3.2 percent to 2.9 percent. In the euro area the government debt to GDP ratio increased from 90.9 percent at the end of 2013 to 91.9 percent at the end of 2014, and in the EU28 from 85.5 percent to 86.8 percent.

In 2014, Denmark (+1.2 percent), Germany (+0.7 percent), Estonia and Luxembourg (+0.6 percent each) registered a government surplus, and the lowest government deficits in percentage of GDP were recorded in Lithuania (-0.7 percent), Latvia (-1.4 percent) and Romania (-1.5 percent). Twelve member-states had deficits higher than 3 percent of GDP: Cyprus (-8.8 percent), Spain (-5.8 percent), Croatia and the United Kingdom (both -5.7 percent), Slovenia (-4.9 percent), Portugal (-4.5 percent), Ireland (-4.1 percent), France (-4.0 percent), Greece (-3.5 percent), Belgium, Poland and Finland (all -3.2 percent).

At the end of 2014, the lowest ratios of government debt to GDP were recorded in Estonia (10.6 percent), Luxembourg (23.6 percent), Bulgaria (27.6 percent), Romania (39.8 percent) and Latvia (40.0 percent). Sixteen member-states had government debt ratios higher than 60 percent of GDP, with the highest registered in Greece (177.1 percent), Italy (132.1 percent), Portugal (130.2 percent), Ireland (109.7 percent), Cyprus (107.5 percent) and Belgium (106.5 percent).

In 2014, government expenditure in the euro area was equivalent to 49.0 percent of GDP and government revenue to 46.6 percent. The figures for the EU28 were 48.1 percent and 45.2 percent respectively. In both zones, the government expenditure ratio decreased between 2013 and 2014, while the government revenue ratio remained stable for the euro area and slightly decreased for the EU28.

Elta EN
It is forbidden to copy the text of this publication without a written permission from ELTA.
|Populiariausi straipsniai ir video

Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues,...

Lithuania and some other EU countries ask for Mobility Package postponement

Lithuania and "like-minded" EU member states are urging the bloc's bodies to postpone the...

Oro Navigacija sees further 50 pct drop in workload after Russia halts flights

The chief executive officer of Lithuania's state-owned air navigation service provider Oro...

Intersurgical to produce 1 million respirators for medics

Intersurgical, a Lithuanian designer, manufacturer and supplier of a wide range of high quality...

Central bank: economy may contract 3-21 pct this year

The Lithuanian central bank forecasts that the economy may contract between 3.4 and 20.8 percent...

Top news

Coronavirus cases in Lithuania reach 437

The Ministry of Health announces that till Sunday morning, 29th March, there were 437 confirmed...

President: South Korean specialists will share knowledge, experience with Lithuania

Lithuanian President Gitanas Nauseda says he has agreed with his South Korean counterpart that the...

Sociologist Audronė Telešienė: stay connected and choose reliable information sources

After the World Health Organization (WTO) declared the COVID-19 virus outbreak a pandemic,...

Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues,...

Lithuania and some other EU countries ask for Mobility Package postponement

Lithuania and "like-minded" EU member states are urging the bloc's bodies to postpone the...

|Maža didelių žinių kaina