Eurozone fiscal deficit declines in Q1
Lower imbalance due to lower spending; revenue remained stable as a share of GDP
The eurozone’s fiscal deficit declined in the first quarter of 2021, data published today (July 22) by Eurostat shows.
The bloc’s seasonally adjusted deficit was recorded at 7.4% of GDP, down from 8.1% in the last quarter of 2020. The main reason for this decline is lower public spending, because revenue remained stable.
From January to March this year, governments’ revenues represented 46.6% of the eurozone’s GDP, unchanged from the previous quarter. Public spending reached 54%.
Eurozone
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