Tags: EU | Europe | Debt

Eurozone Deficit Decreases but Overall Debt Keeps Growing

Wednesday, 21 October 2015 05:42 AM EDT

BRUSSELS (AP) — The 19-country eurozone managed as a whole to rein in its budget deficit by the end of last year, though overall public debt kept rising.

Statistics agency Eurostat says the eurozone's deficit dropped to 2.6 percent of gross domestic product from 3 percent the year before. The region has been focused on controlling government spending to bring deficits within the European Union's limit of 3 percent.

The biggest deficits were seen in countries still emerging from financial crises: Cyprus with 8.9 percent and Portugal's 7.2 percent. Greece, which has been on a tough program of spending cuts, had a deficit of 3.6 percent. Germany had a 0.3 percent surplus.

Public debt edged up to 92.1 percent of GDP by the end of last year from 91.1 percent, Wednesday's figures showed.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
The 19-country eurozone managed as a whole to rein in its budget deficit by the end of last year, though overall public debt kept rising.Statistics agency Eurostat says the eurozone's deficit dropped to 2.6 percent of gross domestic product from 3 percent the year before....
EU,Europe,Debt
132
2015-42-21
Wednesday, 21 October 2015 05:42 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved