Sun. Apr 5th, 2020

Spain, the highest deficit and sixth highest public debt in the EU in 2017

Spain, the highest deficit and sixth highest public debt in the EU in 2017



Spain registered the highest public deficit (3.1% of its GDP) and the sixth largest public debt (98.1% of GDP) among the countries of the European Union (EU) in 2017, Eurostat, the statistical office reported today. Community, based on the second provision of data provided in 2017 by the countries.

Only two Member States of the Union, Portugal (3%) and Spain, scored a public deficit of 3% or more of GDP in 2017, while thirteen countries posted a surplus in the same year.

Eurostat did not make adjustments to the 2017 Spanish deficit figure published in April, which reconfirms the fulfillment of the target, since the indicator stood at 3.1% of GDP, the figure agreed with Brussels for the past exercise

As for public debt, up to fifteen Member States exceeded the 60% of GDP rate, so they placed this indicator above the mark set in the Stability and Growth Pact of the Twenty-eight.

Only Greece (176.1% of its GDP), Italy (131.2%), Portugal (124.8%), Belgium (103.4%) and France (98.5%) registered a public debt higher than the Spanish (98.1%), which Eurostat revised downwards against the data published in its first notification of 2017 (two tenths of a percentage point less than 98.3%).

In contrast, the lowest public debt rates in the EU were recorded in Estonia (8.7%), Luxembourg (23%), Bulgaria (25.6%) and the Czech Republic (34.7%).

Compared to 2016, the public deficit of the Twenty-eight fell from 1.7% to 1% and the debt fell from 83.3% to 81.6%, while in the euro zone the losses were 1.6% at 1% in the case of the deficit and from 89.1% to 86.8% for the debt.

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