Eurozone fiscal deficit declines in Q1

Lower imbalance due to lower spending; revenue remained stable as a share of GDP

High yield's future in doubt

The eurozone’s fiscal deficit declined in the first quarter of 2021, data published today (July 22) by Eurostat shows.

The bloc’s seasonally adjusted deficit was recorded at 7.4% of GDP, down from 8.1% in the last quarter of 2020. The main reason for this decline is lower public spending, because revenue remained stable.

From January to March this year, governments’ revenues represented 46.6% of the eurozone’s GDP, unchanged from the previous quarter. Public spending reached 54%.


Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account