In 2024, the Eurozone's public deficit was 3.1% of GDP, down from 3.5% in 2023. The European Union's overall deficit has also decreased, from 3.5% to 3.2%. This was disclosed by Eurostat, which, however, indicates a modest rise in public debt: in the euro area, it increased to 87.4% of GDP (up from 87.3%), while in the EU, it reached 81% (up from 80.8%). Romania (-9.3%), Poland (-6.6%), and France (-5.8%) experienced the most significant deficits. Italy, with a deficit of 3.4%, ranks tenth among the 27 EU countries in terms of deficit level. Regarding public debt, Italy is still in second place with a debt-to-GDP ratio of 135.3%, trailing only Greece (153.6%) and followed by France (113%), Belgium (104.7%), and Spain (101.8%). These data are crucial in the context of EU fiscal surveillance, which sets a deficit limit of 3% of GDP and a debt limit of 60%. Furthermore, crossing the 90% debt threshold necessitates more stringent repayment methods, as stipulated by the Stability Pact. According to 2023 data, eight nations are currently under the excessive deficit procedure: Italy, Hungary, Romania, France, Poland, Malta, Slovakia, and Belgium. On the other hand, Austria is currently under investigation. The situation is different for other EU countries: Denmark (+4.5%), Ireland, and Cyprus (+4.3%) have budget surpluses, as do Greece (+1.3%), Luxembourg (+1%), and Portugal (+0.7%). Moreover, Germany (2.8%), Croatia (2.4%), Czechia (2.2%), Estonia (1.5%), and the Netherlands (0.9%) all have deficits of less than 3%. In terms of debt, numerous member states remain below the 60% level, including Bulgaria (24.1%), Estonia (23.6%), Ireland (40.9%), and Sweden (33.5%), confirming a distinct divide between central-northern and southern Europe.
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