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Eurozone deficit falls in 2023. Portugal had the 4th largest surplus
The eurozone public deficit fell in 2023 to 3.6% of GDP and the debt slowed to 88.6%, compared to the previous year, with Portugal presenting the fourth largest surplus (1.2%), Eurostat announced today.
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Economia Défice
According to data from the European statistical service, the deficit fell again in 2023, compared to 3.7% in 2022, and the debt is comparable to 90.8% of the Gross Domestic Product (GDP) in the 20 countries of the euro area.
In the European Union (EU), the public deficit worsened from 3.4% in 2022 to 3.5% in 2023, and the debt ratio fell from 83.4% to 81.7% of GDP.
All 27 Member States, except Cyprus and Denmark (3.1% each), Ireland (1.7%) and Portugal (1.2%), recorded a public deficit, with the highest in Italy (-7.4%), Hungary (-6.7%) and Romania (-6.6%).
The Eurostat bulletin also shows that, at the end of 2023, the lowest ratios of public debt to GDP were recorded in Estonia (19.6%), Bulgaria (23.1%) and Luxembourg (25.7%) and the highest in Greece (161.9%), Italy (137.3%) and France (110.6%).
In 2023, Portugal had a public debt of 99.1% of GDP, ranking sixth among the highest.
Read Also: Elderly man dies suffocated by tree branches during farm work (Portuguese version)
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