World Economy

Eurozone Budget Deficit

Eurozone Budget DeficitEurozone Budget Deficit

Eurostat shows that Romania’s budget deficit stood at 1.5% of GDP last year, NineOclock reported. In 2013 the budget deficit stood at 2.2% of GDP, and in 2012 at 2.9%. In 2014 Romania’s deficit fell below the official threshold of 3% included in the Maastricht Treaty. Last year the EU’s budget deficit stood at 2.9% of GDP, down from 3.2% in 2013. In the Eurozone the budget deficit was lower, falling from 2.9% of GDP in 2013 to 2.4% in 2014. In 2014 the lowest budget deficit as a percentage of GDP was registered in Lithuania 0.7%, Latvia 1.4% and Romania 1.5%. Twelve EU member states surpassed the 3% threshold last year: Cyprus 8.8%, Spain 5.8%, Croatia and UK 5.7% each, Slovenia 4.9%, Portugal 4.5%, Ireland 4.1%, France 4%, Greece 3.5%, Belgium, Poland and Finland 3.2% each.