{"id":949497,"date":"2026-07-21T11:34:28","date_gmt":"2026-07-21T11:34:28","guid":{"rendered":"https:\/\/www.europesays.com\/us\/949497\/"},"modified":"2026-07-21T11:34:28","modified_gmt":"2026-07-21T11:34:28","slug":"seasonally-adjusted-government-deficit-at-3-1-of-gdp-in-the-euro-area-euro-indicators","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/949497\/","title":{"rendered":"Seasonally adjusted government deficit at 3.1% of GDP in the euro area – Euro indicators"},"content":{"rendered":"

In the first quarter of 2026, the seasonally adjusted general government deficit to GDP ratio stood at 3.1% in the euro area<\/strong> (EA21) and in the EU<\/strong>. The euro area<\/strong> deficit to GDP ratio decreased slightly compared to 3.2% in the fourth quarter of 2025, while the EU<\/strong> deficit to GDP ratio decreased compared to 3.4% in the previous quarter.<\/p>\n

These data are released by Eurostat, the statistical office of the European Union<\/strong>.<\/p>\n

In the first quarter of 2026, government total revenue in the euro area<\/strong> amounted to 47.1% of GDP. The decrease compared with 47.3% in the fourth quarter of 2025 was mainly due to a small increase in seasonally adjusted government total revenue in absolute terms by around \u20ac1 billion being outweighed by an increase in nominal GDP. Government total expenditure in the euro area<\/strong> stood at 50.2% of GDP, a decrease compared with the previous quarter (50.4% of GDP) due to a decrease in seasonally adjusted total government expenditure by around -\u20ac1 billion as well as an increase in nominal GDP.<\/p>\n

In the EU<\/strong>, government total revenue was 46.6% of GDP in the first quarter of 2026, with the ratio decreased compared to 46.7% in the fourth quarter of 2025. Seasonally adjusted total revenue in the EU<\/strong> increased by around \u20ac9 billion compared with the fourth quarter of 2025. Government total expenditure in the EU <\/strong>was 49.8% of GDP, an decrease compared with 50.1% of GDP in the previous quarter. Seasonally adjusted total expenditure decreased by around -\u20ac2 billion compared with the previous quarter.<\/p>\n

Notes for users
\n Methods and definitions<\/p>\n

Data for the euro area and EU aggregates are calendar and seasonally adjusted by Eurostat using an indirect approach (by\u00a0country) for total revenue and total expenditure. Both revenue and expenditure exhibit a clear seasonal pattern. The surplus (+) \/ deficit (-) is derived indirectly from the above-mentioned transactions. For the ratios to GDP, calendar and seasonally adjusted GDP data are used.<\/p>\n

Detailed metadata on seasonal adjustment are available in Statistics Explained<\/a>.<\/p>\n

Quarterly non-financial accounts for general government use concepts that are in line with the methodology laid out in the European System of Accounts (ESA 2010) as well as the concept of general government deficit\/surplus used in the context of the Excessive Deficit Procedure (EDP). Annual EDP data, next to be published in October 2026, are the subject of a thorough verification by Eurostat.<\/p>\n

Quarterly data on GDP are the most recent ones provided by EU Member States. While non-seasonally adjusted quarterly government deficit\/surplus figures are consistent with annual figures with the exception of differences due to data updates, differences between the sum of quarterly non-seasonally adjusted data and annual figures may occur for EU and euro area aggregates due to exchange rates effects. Differences between annualised seasonally adjusted data and annual data occur for technical reasons. Differences between quarterly and annual GDP figures also occur, due to differences in data updates.<\/p>\n

At the level of the EU aggregates, differences between the change in total revenue and total expenditure and the change in surplus (+) \/ deficit (-) are due to rounding, as are differences between data in percentage of GDP and changes in data in percentage points of GDP.<\/p>\n

Since the first quarter of 2020, Member States have implemented COVID-19 containment measures. In all quarters of 2022 and 2023, the impact of the measures to mitigate the economic and social impact of the COVID-19 pandemic had a significantly lower impact than in quarters of 2020 and 2021, however, government revenue and expenditure were impacted by the measures undertaken by most Member States to alleviate the impact of increasing energy prices. In the quarters of 2024 and 2025, such measures have a much lower impact than in preceding quarters.<\/p>\n

All quarterly government finance statistics data for the first quarter of 2026 have been labelled provisional.<\/p>\n

Country specific explanatory metadata<\/a> are published.<\/p>\n

Geographical information<\/p>\n

Up to 31 December 2025, the euro area<\/strong> included Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland (EA20)<\/strong>. From 1 January 2026, the euro area<\/strong> also includes Bulgaria (EA21)<\/strong>.<\/p>\n

The aggregate data series commented on in this Euro indicator release refer to the official composition of the euro area in the most recent quarter for which data are available. Thus, Euro indicator releases with data for quarters up to the fourth quarter of 2025 commented on EA20 series, while releases with data for the first quarter of 2026 onwards comment on EA21 series.<\/p>\n

The European Union<\/strong> includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden (EU27)<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"In the first quarter of 2026, the seasonally adjusted general government deficit to GDP ratio stood at 3.1%…\n","protected":false},"author":3,"featured_media":949498,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[64,79,355363,99499,67,132,68],"class_list":["post-949497","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-economy-and-finance","tag-gov","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116957758958473646","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/949497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=949497"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/949497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/949498"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=949497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=949497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=949497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}