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Euro area and EU27 government deficit at 2.0% and 2.3% of GDP respectively

Euro area and EU27 government deficit at 2.0% and 2.3% of GDP respectively

In 2008, the government deficit1 and government debt1 of both the euro area2 (EA16) and the EU27 increased compared with 2007. In the euro area the government deficit to GDP ratio increased from 0.6% in 20073 to 2.0% in 2008, and in the EU27 it increased from 0.8% to 2.3%. In the euro area the government debt to GDP ratio increased from 66.0% at the end of 2007 to 69.3% at the end of 2008, and in the EU27 from 58.7% to 61.5%.