In Q1 2021, Latvia’s state budget deficit ratio to GDP was larger than the average in the European Union, according to the data published by Eurostat for 22 EU member states.
According to this data, Latvia’s budget deficit in January-March was 8.6% of GDP.
In Q1, budget deficit was observed in nearly all EU member states for which information was available. Surplus was observed only in Denmark (+0.3%) and Luxembourg (+3%).
Budget deficit was higher in Malta (-9.8%), France (-9.3%) and the Czech Republic (-8.8%).
Budget deficit in Lithuania was 5.8% in Q1. In Estonia it was 3.4%.
In Q1, the seasonally adjusted general government deficit in the EU was 6.8% of GDP. In Eurozone it was 7.4%. (BNN/Business World Magazine)
