In the euro area the government deficit to GDP ratio fell from 2.6 percent in 2014 to 2.1 percent in 2015, and in the EU28 from 3.0 percent to 2.4 percent, according to Eurostat, the statistical office of the European Union data. In the euro area the government debt to GDP ratio declined from 92.0 percent at the end of 2014 to 90.7 percent at the end of 2015, and in the EU28 from 86.8 percent to 85.2 percent.
Thus, at the end of 2015, the lowest ratios of government debt to GDP were recorded in Estonia (9.7 percent), Luxembourg (21.4 percent), Bulgaria (26.7 percent), Latvia (36.4 percent) and Romania (38.4 percent). Seventeen Member States had government debt ratios higher than 60 percent of GDP, with the highest registered in Greece (176.9 percent), Italy (132.7 percent), Portugal (129.0 percent), Cyprus (108.9 percent) and Belgium (106.0 percent).
At the same time, in 2015, Luxembourg (+1.2 percent), Germany (+0.7 percent) and Estonia (+0.4 percent) registered a government surplus, while Sweden (0.0 percent) reported a government balance. The lowest government deficits as a percentage of GDP were recorded in Lithuania (-0.2 percent), the Czech Republic (-0.4 percent), Romania (-0.7 percent) and Cyprus (-1.0 percent). Seven Member States had deficits equal to or higher than 3 percent of GDP: Greece (-7.2 percent), Spain (-5.1 percent), Portugal and the United Kingdom (-4.4 percent each), France (-3.5 percent), Croatia (-3.2 percent) and Slovakia (-3.0 percent).