In Q1 2022 Latvia’s general government budget deficit ratio to GDP was higher than the average in the European Union, according to data published by Eurostat on Thursday, 21 July.
Budget deficit was observed in 18 EU member states for which data is available. Budget surplus was observed in five countries – Denmark (+0.1%), Lithuania (+0.3%), Portugal (+0.9%), Luxembourg (+1.7%) and Ireland (+2.5%).
Latvia’s budget deficit for January-March was 3.1% of GDP.
Budget deficit was the highest in Malta (+8%), Hungary (-6.9%), Romania (-5.8%) and Belgium (-5.2%).
Estonia’s general government budget deficit ratio to GDP was 1.3%.
In Q1 2022 the seasonally adjusted general government deficit was 2.2% of GDP in the EU and 2.3% of in Eurozone.