Eurostat: Eurozone deficits improve, debt mounts

GMT 09:26 2014 Wednesday ,23 April

Arab Today, arab today Eurostat: Eurozone deficits improve, debt mounts

Arab Today

Eurozone public finances improved in 2013 as the economy finally turned the corner on a record recession but total debt levels remained dangerously high, official data showed on Wednesday. The average eurozone government deficit -- the shortfall between revenue and spending -- came in at 3.0 percent last year, in line with the EU ceiling and down from 3.7 percent in 2012, the Eurostat statistics agency said. Total accumulated debt, however, increased to 92.6 percent of gross domestic product, up from 90.7 percent and compared with the European Union 60-percent limit.

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