Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Total government deficits jumped to 7.2% in the euro area and to 6.9% in the EU in 2020, up from 0.6% and 0.5% recorded in 2019 as the pandemic triggered a surge in government spending, data published Thursday by Eurostat showed. Overall government debt rose to 98.0% in 2020 after easing to 83.9% in 2019.
All EU member states posted a deficit in 2020 and the highest were recorded in Spain (11.0%), Malta (10.1%) and Greece (9.5%). Among the big four economies, Germany saw the smallest deficit at 4.2%, while Italy's and France's deficit was 9.5% and 9.2%, respectively. Only Denmark (1.1%) saw a deficit below 3% of GDP.
The lowest government debt to GDP ratios were posted by Estonia (18.2%), Luxembourg (24.9%) and Bulgaria (25.0%), while the highest ratios were recorded in Greece (205.6%), Italy (155.8%) and Portugal (133.6%). Eurostat noted that 14 of the EU member states saw government debt to GDP above 60% in 2020.
Source: Eurostat
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.