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Euro area government deficit at 7.2% and EU at 6.9% of GDP

Euro area government deficit at 7.2% and EU at 6.9% of GDP

In 2020, the government deficit of both the euro area and the EU increased significantly compared with 2019, as did the government debt, in the context of the measures undertaken in response to the COVID-19 pandemic. In the euro area the government deficit to GDP ratio rose from 0.6% in 2019 to 7.2% in 2020, and in the EU from 0.5% to 6.9%. In the euro area the government debt to GDP ratio increased from 83.9% at the end of 2019 to 98.0% at the end of 2020, and in the EU from 77.5% to 90.7%.[…]