Govt deficit decreases to 1.9% of GDP in EU

BRUSSELS, July 23 (KUNA) -- In the first quarter of 2014, general government deficit to GDP ratio stood at 2.7% in the euro area nearly stable compared with 2.6 % in the fourth quarter of 2013 . In the EU, the deficit to GDP ratio decreased from 3.1% of GDP in the fourth quarter of 2013 to 1.9% of GDP in the first quarter of 2014, Eurostat, the EU's statistical office reported Wednesday.
In the first quarter of 2014, total government revenue in the euro area amounted to 46.8% of GDP, compared with 46.9% in the fourth quarter of 2013. Total government expenditure in the euro area stood at 49.5% of GDP, stable in comparison with the previous quarter.
In the first quarter of 2014, total government revenue in the EU was 46.6% of GDP, compared with 45.7% of GDP in the fourth quarter of 2013. Total government expenditure in the EU was 48.5% of GDP, down from 48.8% in the previous quarter, it noted. (end) nk.rk