While in the European Union and the eurozone, the government deficit fell by 0.2 percentage points in the first quarter of this year compared with the last quarter of last year, in Romania the government deficit registered the highest increase among the Member States -1.3 percentage points, from a deficit of 1.8 percent of GDP in the fourth quarter of 2016, to a deficit of 3.2 percent of GDP in the first quarter of this year.
According to Eurostat, the statistical office of the European Union, Romania’s government deficit was three times higher than the one in the EU (1 percent of GDP) in the first quarter of this year, and among the EU Member States, only France had a higher government deficit in the first three months of this year.
However, during the Q4 of 2016 – Q1 of this year, the government debt in the EU increased by 0.5 percentage points and by 0.3 percentage points in the euro area, but decreased by 0.4 percentage points in Romania, from 37.6 percent of GDP to 37.1 percent of GDP.
Romania is also among the EU Member States with the lowest ratio of government debt, being exceeded only by Estonia (9.2 percent of GDP), Luxembourg (23 percent of GDP), Bulgaria (28.6 percent of GDP) Denmark (36.7 percent). According to Eurostat data, Romania’s government debt is well below the EU average of 84.1 percent of GDP and of the euro area of 89.5 percent./IBNA