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Eurozone 2011 Govt. Deficit Narrows

The Eurozone government deficit narrowed in 2011, while government debt increased from the prior year, data from Eurostat showed Monday.

The government deficit fell to 4.1 percent of GDP in 2011 from 6.2 percent in 2010.

Data showed that government expenditure decreased to 49.3 percent of GDP from 50.9 percent, while revenues rose to 45.2 percent of GDP from 44.7 percent in the prior year.

On the other hand, government debt climbed to 87.2 percent of GDP from 85.3 percent in the previous year.

In 2011, the largest government deficits in percentage of GDP were recorded in Ireland, at -13.1 percent, followed by Greece and Spain. The lowest deficit was logged in Finland.

At the end of 2011, the lowest ratios of government debt to GDP were registered in Estonia, at 6.0 percent, which was followed by Bulgaria, Luxembourg and Romania.

by RTTNews Staff Writer

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