Government debt in the euro area fell to 88.6% of the gross domestic product (GDP) in the fourth quarter of 2023, compared with 89.6% in the third quarter, Eurostat reported on Monday. In the European Union, government debt was at 81.7% of GDP, down from 82.4% in Q3. In the Eurozone, 83.4% of the debt was debt securities, 13.8% loans, and 2.8% currency and deposits.
The government deficit to GDP ratio in the fourth quarter rose to 4.1% in the euro area compared to 3.6% in the third quarter. In the EU, it grew to 4% from 3.5%. In 2023 as a whole, the deficit declined to 3.6% from 3.7% in 2022, while it increased to 3.5% from 3.4% in the EU.
