Eurozone budget deficit declined in 2022

Government imbalances declined to 3.6% of GDP from 5.2% in 2021

Euro symbol

The eurozone’s budget deficit declined in 2022, according to data published today by Eurostat, the European Union (EU) statistical agency.

The overall government deficit fell to 3.6% of GDP from 5.2% in 2021. Similarly, public debt declined to 91% of GDP from 94.8% over the same period.

The highest deficits were recorded in Italy (8%) and Malta (5.7%). In contrast, Cyprus and Ireland recorded a surplus – the former of 2.4% of GDP and the latter of 1.7%.

Regarding public debt levels, Greece

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