Eurozone’s public debt rose sharply in 2020 – official figures

Public debt in the bloc jumped to 98% of GDP in wake of Covid-19, Eurostat says

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Budget deficits and public debt levels in the eurozone increased drastically in 2020, the official statistical agency Eurostat said today (April 22).

The official figures confirm the large increase in public spending and lower tax revenues created a major impact on fiscal balances.

The ratio of government deficits to GDP in the eurozone rose from 0.6% in 2019 to 7.2% in 2020, the agency said. The eurozone’s ratio of public debt to GDP rose from 83.9% to 98%.

The highest budget deficits were

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