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Eurostat: Hungary, Romania report highest Q4, 2017 gov't deficit in EU
Hungary and Romania reported the highest Q4, 2017 government deficit in the European Union, according to data released on Tuesday by the Eurostat official statistics provider of the EU.
In the fourth quarter of 2017, the seasonally adjusted general government deficit to GDP ratio stood at 0.6 percent in the euro area, stable compared with the third quarter of 2017. In the EU28, the deficit to GDP ratio stood at 0.6 percent, a decrease compared with 0.7 percent in the previous quarter.
In Romania, the deficit declined to 2.4 percent of the Gross Domestic Product (GDP) in Q4, 2017 from Q3, 2017's 2.9 percent and Q4, 2016's 3.6 percent of the GDP.
In Hungary, the Q4, 2017 government deficit reached 5.3 percent, down from 4.4 percent of the GDP in the previous quarter and 7.7 percent in Q4, 2016.
Most of the EU member states recorded government surpluses in the fourth quarter of 2017: Malta (4.5 percent of the GDP); the Czech Republic and Luxemburg (each 2.3 percent); Denmark and Sweden (each 1.6 percent); Finland (1.1 percent); Germany (1.3 percent); the Netherlands (1 percent); Bulgaria (0.5 percent) and Slovakia (0.3 percent), while Estonia and Lithuania reported balanced national budgets.