BUSINESS

Budget deficit of 1.5 pc of GDP in 2014

Eurostat shows that Romania’s budget deficit stood at 1.5 per cent of GDP last year. In 2013 the budget deficit stood at 2.2 per cent of GDP, and in 2012 at 2.9 per cent. In 2014 Romania’s deficit fell below the official threshold of 3 per cent included in the Maastricht Treaty.

Last year the EU’s budget deficit stood at 2.9 per cent of GDP, down from 3.2 per cent in 2013. In the Euro Zone the budget deficit was lower, falling from 2.9 per cent of GDP in 2013 to 2.4 per cent in 2014.

In 2014 the lowest budget deficit as a percentage of GDP was registered in Lithuania (0.7 per cent), Latvia (1.4 per cent) and Romania (1.5 per cent). Twelve EU member states surpassed the 3 per cent threshold last year: Cyprus (8.8 per cent), Spain (5.8 per cent), Croatia and UK (5.7 per cent each), Slovenia (4.9 per cent), Portugal (4.5 per cent), Ireland (4.1 per cent), France (4 per cent), Greece (3.5 per cent), Belgium, Poland and Finland (3.2 per cent each).

 

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