(MENAFN- Kuwait News Agency (KUNA)) In the first quarter of 2015, the general government deficit to GDP ratio stood at 2.3 percent in the euro area, a decrease compared with 2.5 percent in the fourth quarter of 2014. In the EU, the deficit to GDP ratio stood at 2.6 percent, a decrease compared with 2.8 percent in the previous quarter.
These figures were released Thursday by Eurostat, the EU's statistical office.
In the first quarter of 2015, total government revenue in the euro area amounted to 46.5 percent of GDP, compared with 46.7 percent in the fourth quarter of 2014. Total government expenditure in the euro area stood at 48.7 percent of GDP, compared to 49.2 percent of GDP in the previous quarter.
In the EU, total government revenue was 45.0 percent of GDP in the first quarter of 2015, compared with 45.4 percent in the fourth quarter of 2014. Total government expenditure in the EU was 47.6 percent of GDP, compared with 48.1 percent in the previous quarter. (end) nk.ibi
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