Romania: Government deficit has reached an alarming 3 percent of the GDP

Romania, alongside three other EU Member States, had a government deficit (calculated based on ESA methodology, the European Accounts system – e.n.) of 3 pct or more of the GDP, according to a revised estimate released on Monday by the European Statistical Office.

According to these figures, similar to those released in April by Eurostat, Spain has recorded a negative balance of 4.5 pct of the GDP, France, a 3.4 pct deficit and Romania, 3 pct of the GDP.

In contrast, at the end of 2016, Romania was among the EU member states with the lowest level of government debt relative to the Gross Domestic Product (37.6 pct), a lower level being registered only by Estonia (9.4 pct of GDP) Luxembourg (20.8 pct of GDP), Bulgaria (29 pct) and the Czech Republic (36.8 pct of GDP). At EU level, an overall number of 16 member states had a government debt level higher than 60 pct of GDP in 2016.

According to Eurostat, in 2016, the government deficit and debt, both in the eurozone and in the EU 28, have dropped as compared to 2015. In the eurozone, the government deficit went down from 2.1 oct of GDP in 2015 to 1.5 pct in 2016, while in the EU, it dropped from 2.4 pct to 1.7 pct. As regards government debt, in the eurozone it decreased from 89.9 pct of GDP end-2015 to 88.9 pct end-2016, whereas in the EU it decreased from 84.5 pct to 83.2 pct.

Eurostat highlights that it has not made changes to data reported by member states.

 

 

 

Source: Eurostat.

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