In Q3 2024, the seasonally adjusted government deficit-to-GDP ratio stood at 2.6% in the euro area (EA20) and 2.9% in the EU. Compared to Q2 2024, the deficit ratio decreased in both the euro area and the EU.
These figures are published by Eurostat, the statistical office of the European Union.
Seasonally Adjusted Public Revenues and Expenditures in the Euro Area and the EU
In Q3 2024, total government revenues in the euro area accounted for 47.0% of GDP. This increase from 46.5% in Q2 2024 was mainly due to a rise in total seasonally adjusted revenues in absolute terms, as well as an increase in nominal GDP. In absolute terms, total seasonally adjusted government revenues in the euro area rose by approximately €35 billion compared to Q2 2024.
Total government expenditures in the euro area remained at 49.6% of GDP, unchanged from the previous quarter. This was due to an increase in total seasonally adjusted government expenditures of around €18 billion, which was offset by increases in nominal GDP.
In the EU, total government revenues reached 46.4% of GDP in Q3 2024, up from 46.0% in Q2 2024. Seasonally adjusted revenues in the EU increased by around €42 billion compared to the previous quarter.
Total government expenditures in the EU stood at 49.3% of GDP, slightly higher than the 49.2% in Q2 2024. Seasonally adjusted expenditures rose by approximately €27 billion compared to the previous quarter.
source: EUROSTAT