Eurostat: Romania’s budget deficit reached 3% of GDP in 2016

Romania was among the EU member states with a budget deficit equal to or above 3% of the GDP in 2016, according to EU’s statistical office Eurostat. Romania recorded a budget deficit of 3% of the GDP, while France and Spain had budget deficits of 3.4%, respectively 4.5% of their GDPs last year. Estonia and Denmark saw the lowest budget deficits, whereas Luxembourg and Malta recorded budget surpluses in 2016. Sweden, Germany, Greece, Cyprus, the Netherlands and Lithuania also saw budget surpluses. Romania was among the EU member states with the lowest level of government debt compared to the GDP, namely 37.6%. Other states in this category included Estonia, with 9.4%, Luxembourg, with 20.8%, or Bulgaria, with 29%. The highest levels of government debt versus GDP were recorded in Greece (180.8%), Italy (132%), Portugal (130.1%), Cyprus (107.1%) and Belgium (105.7%). editor@romania-insider.com