According to the EU's statistics office Eurostat, these figures are up from 3.6% and 3.5% in the third quarter for the euro area and EU.
In the fourth quarter of 2023, total government revenue in the euro area amounted to 46.6% of GDP, down from 46.7% in the third quarter. This is due to the increase in total government revenue being seasonal adjustment in absolute terms as well as a stronger relative increase in nominal GDP.
The ratio of general government deficit to seasonally adjusted GDP stood at 4.1% in the euro area and 4% in the EU in the fourth quarter of 2023. These figures are up from 3.6% and 3.5% in the third quarter respectively for the euro area and EU. . In the fourth quarter of 2023, government revenue in the euro area was 46.6% of GDP, down from 46.7% in the third quarter.
In absolute terms, total seasonally adjusted revenue in the euro area increased by about 21 billion euros (~$22.41 billion) compared to Q3 2023 figures.
Total government spending in the euro area stood at 50.7% of GDP, up from 50.2% in the previous quarter, as seasonally adjusted total government spending increased by about 42 billion euros ( ~ 44.83 billion USD). ).
In the EU, total government revenue was 46.2% of GDP in the fourth quarter of 2023, unchanged from the previous quarter.
Total seasonally adjusted revenue in the EU increased by about 30 billion euros (~$32 billion) compared to the third quarter of 2023. Total government spending in the EU was 50.2% of GDP, up from 49.7% GDP in the previous quarter.
Total seasonally adjusted spending increased by about 54 billion euros (~$57.66 billion) compared to the previous quarter.
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