Issue link: https://maltatoday.uberflip.com/i/1514895
COMMERCIAL 12 maltatoday | WEDNESDAY • 24 JANUARY 2024 IN the third quarter of 2023, the seasonally adjusted general government deficit to GDP ratio stood at 2.8% in the euro area (EA20) and in the EU. The euro area and EU deficit to GDP ratios decreased slight- ly compared to the second quarter of 2023. In the third quarter of 2023, the euro area and EU deficit to GDP ratios stood at 2.8%, a decrease com- pared to 3.0% in the second quarter of 2023. Measures to alleviate the im- pact of high energy prices con- tinued to impact on the gov- ernment balances in the third quarter of 2023. These data were released by Eurostat, the statistical office of the European Union. In the third quarter of 2023, government total revenue in the euro area amounted to 46.5% of GDP. An increase compared with 46.1% in the second quarter of 2023 was due to an increase of seasonally ad- justed government total reve- nue in absolute terms as well as a comparatively lower growth in nominal GDP. In absolute terms, seasonally adjusted total revenue in the euro area increased by around €23 billion compared with the second quarter of 2023. Government total expendi- ture in the euro area stood at 49.3% of GDP, an increase in the ratio compared with 49.1% in the previous quarter, due to an increase in seasonally adjusted total government ex- penditure by around €15 bil- lion as well as a comparative- ly lower increase in nominal GDP. In the EU, government total revenue was 46.0% of GDP in the third quarter of 2023, an increase compared to 45.7% in the second quarter of 2023. Seasonally adjusted total rev- enue in the EU increased by around €24 billion compared with the second quarter of 2023. Government total ex- penditure in the EU was 48.8% of GDP, an increase compared with 48.7% of GDP in the pre- vious quarter. Seasonally adjusted total ex- penditure increased by around €16 billion compared with the previous quarter. Geographical information Euro area (EA20): Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Neth- erlands, Austria, Portugal, Slo- venia, Slovakia and Finland. European Union (EU27): Bel- gium, Bulgaria, Czechia, Den- mark, Germany, Estonia, Ire- land, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hun- gary, Malta, the Netherlands, Austria, Poland, Portugal, Ro- mania, Slovenia, Slovakia, Fin- land and Sweden. Seasonally adjusted government deficit at 2.8% of GDP in the euro area and in the EU In the third quarter of 2023, the euro area and EU deficit to GDP ratios stood at 2.8%, a decrease compared to 3.0% in the second quarter of 2023