In 2020, the government deficit of both the euro area and the EU increased significantly compared with 2019, as did the government debt, in the context of the measures undertaken in response to the COVID-19 pandemic. In the euro area the government deficit to GDP ratio rose from 0.6% in 2019 to 7.2% in 2020, and in the EU from 0.5% to 6.9%. In the euro area the government debt to GDP ratio increased from 83.6% at the end of 2019 to 97.3% at the end of 2020, and in the EU from 77.2% to 90.1%. In this release, Eurostat, the statistical office of the European Union, is providing government deficit and debt data for the years 2017-2020 based on figures reported by EU Member States in the second notification in 2021, for the application of the excessive deficit procedure (EDP). This notification is based on the ESA 2010 system of national accounts. This release also includes data on government expenditure and revenue. In 2020, all Member States reported a deficit. The highest deficits were recorded in Spain (-11.0%), Greece (-10.1%), Malta (-9.7%), Italy (-9.6%), Romania (-9.4%), Belgium and France (both -9.1%), Austria (-8.3%), Hungary (-8.0%), Slovenia (-7.7%), Croatia (-7.4%), Lithuania (-7.2%) and Poland (-7.1%). All Member States, except Denmark (-0.2%) and Sweden (-2.8%), had deficits higher than 3% of GDP. At the end of 2020, the lowest ratios of government debt to GDP were recorded in Estonia (19.0%), Bulgaria (24.7%), Luxembourg (24.8%), Czechia (37.7%) and Sweden (39.7%). Thirteen Member States had government debt ratios higher than 60% of GDP, with the highest registered in Greece (206.3%), Italy (155.6%), Portugal (135.2%), Spain (120.0%), Cyprus (115.3%), France (115.0%) and Belgium (112.8%). In 2020, government expenditure in the euro area was equivalent to 53.8% of GDP and government revenue to 46.6%. The figures for the EU were 53.1% and 46.3%, respectively. In both zones, the government expenditure ratio increased significantly, while the government revenue ratio increased only slightly.
A painting estimated at EUR 2 million that was stolen from an Oxford university art gallery roughly four years ago was recovered in Romania and returned to the UK judicial authorities last month, the Romanian Police announced. According to the BBC,...
Romania's national team will play in Group B at Debrecen in the 2024 European Women's Handball Championship alongside the teams from Montenegro, the Czech Republic, and Serbia, according to the draw held in Vienna. The Romanian team was part of the second pot and was the first drawn. Romania qualified undefeated for the final tournament, […]
Bucharest City Hall, through the General Directorate of Social Assistance of the City of Bucharest (DGASMB), and UNICEF Romania inaugurated on Thursday, April 18, a new integrated social services unit for vulnerable children in the capital city. The Respiro center for children with disabilities and their families, named The Magical Rainbow, will provide free services such as […]
Romania is inching closer to admission into the US Visa Waiver Program, a national strategic objective, according to the government. The country is increasingly close to meeting the technical criteria for joining. To be part of the program, countries need to have an applicant refusal rate below 3%. To reach this goal, the government says […]
Document 56, a Romanian short feature by Christopher Landry, will have its world premiere at The Beverly Hills Film Festival, where it has been chosen in the Official Selection. The event’s 24th edition is scheduled for May 1-5. Director Landry and composer Călin Țopa will be in attendance for the BHFF screening. The Romanian short […]
The Easter Fair in Bucharest might have been canceled, but the public can still visit two Palm Sunday fairs hosted by the museums dedicated to village culture, while many cities in the country host Easter fairs with ample programs. Palm Sunday Fair @ Dimitrie Gusti Village Museum in Bucharest April 26 – April 28 The […]
