Romania posts highest EU government deficit of 4.1 pct of GDP in Q2

Romania has posted a government deficit of 4.1 percent of GDP in the second quarter of 2017 compared to the previous quarter. This was the highest seasonally adjusted deficit posted by a member of the European Union in the second quarter of the year, according to Eurostat, the statistics office of the EU, says Business-Review.eu.

The second biggest deficit of 3.4 percent was posted by the UK, while France was third with 2.8 percent.

In the Euro zone, the deficit stood at 1.2 percent in Q2, an increase compared with 1.0 percent in the first quarter of 2017. In the EU28, the deficit to GDP ratio stood at 1.3 percent, an increase compared with 1.1 percent in the previous quarter.

Eurostat data further shows that total government revenue in the EU was 44.6 percent of GDP in the second quarter of 2017, compared with 44.9 percent in the first quarter of 2017. Total government expenditure in the EU28 was 46.0 percent of GDP, stable compared to the previous quarter.

Romania recorded the biggest economic growth in the EU of 5.7 percent in the second quarter compared to the same period of last year. Meanwhile, the National Statistics Institute (INS) said that the local economy expanded by 6.1 percent.

 

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