Overview
In the euro area (EA20) the government deficit to GDP ratio remained unchanged at 3.0% in 2024 and 2025. In the EU, it also remained unchanged at 3.1%, the same level as in 2024. In the euro area the government debt to GDP ratio increased from 86.6% at the end of 2024 to 87.7% at the end of 2025, and in the EU from 80.3% to 81.5%.
In this release, Eurostat, the statistical office of the European Union, is providing government deficit and debt data for the years 2022-2025, based on figures reported by EU Member States in the second notification in 2026, for the application of the excessive deficit procedure (EDP). This notification is based on the ESA 2010 system of national accounts. This release also includes data on government expenditure and revenue.
Deficit and debt data for Euro area and EU
2022
2023
2024
2025
(million euro)
13 781 200
14 706 360
15 327 128
15 876 784
(million euro)
-463 598
-503 008
-466 739
-475 818
% of GDP
-3.4
-3.4
-3.0
-3.0
% of GDP
49.8
49.2
49.3
49.8
% of GDP
46.4
45.8
46.2
46.8
(million euro)
12 288 103
12 751 660
13 266 075
13 921 773
% of GDP
89.2
86.7
86.6
87.7
(million euro)
13 867 536
14 801 461
15 432 407
15 993 333
(million euro)
-466 126
-504 891
-469 931
-480 482
% of GDP
-3.4
-3.4
-3.0
-3.0
% of GDP
49.7
49.2
49.2
49.7
% of GDP
46.4
45.7
46.1
46.7
(million euro)
12 307 450
12 773 328
13 291 045
13 956 565
% of GDP
88.8
86.3
86.1
87.3
(million euro)
16 191 969
17 299 254
18 131 205
18 884 567
(million euro)
-507 477
-582 923
-566 571
-592 233
% of GDP
-3.1
-3.4
-3.1
-3.1
% of GDP
49.1
48.8
48.9
49.4
% of GDP
46.0
45.4
45.8
46.3
(million euro)
13 318 307
13 897 281
14 550 735
15 386 675
% of GDP
82.3
80.3
80.3
81.5
In 2025, all Member States, except Cyprus (+3.6%), Denmark (+2.9%), Greece (+2.0%), Ireland (+1.8%) and Portugal (+0.7%), reported a deficit. The highest deficits were recorded in Romania (‑7.8%), Poland (-7.2%), Belgium (-5.2%) and France (‑5.1%). Eleven Member States had deficits equal to or higher than 3% of GDP.
At the end of 2025, the lowest ratios of government debt to GDP were recorded in Estonia (24.0%), Luxembourg (26.0%), Denmark (27.2%), Bulgaria (29.9%), Ireland (34.8%), Sweden (35.1%) and Lithuania (39.3%). Twelve Member States had government debt ratios higher than 60% of GDP, with the highest registered in Greece (145.4%), Italy (136.7%), France (115.7%), Belgium (108.1%) and Spain (100.5%).
In 2025, the government total expenditure to GDP ratio in the euro area stood at 49.8% of GDP and the government total revenue to GDP ratio stood at 46.8%. The figures for the EU were 49.4% and 46.3%, respectively. Government revenue and expenditure ratios increased both in the euro area and the EU compared to 2024.
Reservations on reported data
Eurostat is expressing a reservation on the quality of data reported by Bulgaria for 2025. Eurostat is discussing with the Bulgarian statistical authorities the appropriate national accounts recording of some operations of the Road Infrastructure Agency (RIA) ( Агенция Пътна инфраструктура). This will require additional data from the national authorities. Bulgaria is currently recording these amounts as impacting the 2025 deficit by 0.6% of GDP.
Amendment by Eurostat to reported data
Eurostat has made no amendments to the data reported by Member States.
Tables
GDP, government deficit/surplus and debt in the EU
(in national currencies)
2022
2023
2024
2025
(million euro)
561 690
603 142
619 368
640 853
(million euro)
-19 889
-24 820
-27 242
-33 423
(% of GDP)
-3.5
-4.1
-4.4
-5.2
(% of GDP)
52.5
52.7
54.1
54.4
(% of GDP)
48.9
48.6
49.7
49.2
(million euro)
580 379
617 215
644 027
692 832
(% of GDP)
103.3
102.3
104.0
108.1
(million euro)
8 567
8 357
8 059
7 808
(% of GDP)
1.5
1.4
1.3
1.2
(million euro)
86 336
95 101
105 279
116 549
(million euro)
-2 528
-1 884
-3 191
-4 664
(% of GDP)
-2.9
-2.0
-3.0
-4.0
(% of GDP)
41.2
38.6
39.0
42.1
(% of GDP)
38.3
36.6
36.0
38.1
(million euro)
19 355
21 675
24 977
34 797
(% of GDP)
22.4
22.8
23.7
29.9
(million euro)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million CZK)
7 049 872
7 659 655
8 069 326
8 573 124
(million CZK)
-213 884
-282 814
-159 222
-185 469
(% of GDP)
-3.0
-3.7
-2.0
-2.2
(% of GDP)
43.2
44.0
43.1
43.3
(% of GDP)
40.2
40.3
41.2
41.1
(million CZK)
2 997 632
3 234 102
3 488 500
3 787 253
(% of GDP)
42.5
42.2
43.2
44.2
(million CZK)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million DKK)
2 831 270
2 781 328
2 985 555
3 118 538
(million DKK)
95 960
97 513
122 905
90 224
(% of GDP)
3.4
3.5
4.1
2.9
(% of GDP)
45.1
47.5
46.5
47.2
(% of GDP)
48.5
51.0
50.6
:
(million DKK)
944 746
917 359
892 772
847 653
(% of GDP)
33.4
33.0
29.9
27.2
(million DKK)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
4 010 630
4 254 930
4 386 940
4 529 710
(million euro)
-74 296
-94 986
-119 146
-132 104
(% of GDP)
-1.9
-2.2
-2.7
-2.9
(% of GDP)
48.3
47.7
49.0
50.1
(% of GDP)
46.5
45.5
46.2
47.2
(million euro)
2 569 655
2 630 765
2 694 319
2 845 970
(% of GDP)
64.1
61.8
61.4
62.8
(million euro)
66 900
65 755
62 928
60 967
(% of GDP)
1.7
1.5
1.4
1.3
(million euro)
36 443
38 158
39 883
41 875
(million euro)
-373
-1 046
-652
-839
(% of GDP)
-1.0
-2.7
-1.6
-2.0
(% of GDP)
40.0
43.2
44.2
45.6
(% of GDP)
38.9
40.5
42.6
43.6
(million euro)
6 965
7 736
9 359
10 046
(% of GDP)
19.1
20.3
23.5
24.0
(million euro)
482
481
481
481
(% of GDP)
1.3
1.3
1.2
1.1
(million euro)
523 248
520 792
561 940
602 441
(million euro)
8 609
7 582
23 433
10 667
(% of GDP)
1.6
1.5
4.2
1.8
(% of GDP)
20.5
22.4
22.4
22.3
(% of GDP)
22.1
23.8
26.5
24.0
(million euro)
223 696
219 261
215 571
209 923
(% of GDP)
42.8
42.1
38.4
34.8
(million euro)
284
1 249
197
3 673
(% of GDP)
0.1
0.2
0.0
0.6
(million euro)
207 020
225 058
237 706
249 726
(million euro)
-5 496
-3 325
3 326
4 935
(% of GDP)
-2.7
-1.5
1.4
2.0
(% of GDP)
53.2
49.5
47.8
47.8
(% of GDP)
50.5
48.0
49.2
49.8
(million euro)
368 005
369 110
364 960
362 995
(% of GDP)
177.8
164.0
153.5
145.4
(million euro)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
1 375 863
1 496 277
1 598 588
1 690 012
(million euro)
-63 105
-50 027
-50 807
-40 641
(% of GDP)
-4.6
-3.3
-3.2
-2.4
(% of GDP)
46.3
45.5
45.4
45.3
(% of GDP)
41.7
42.1
42.2
42.9
(million euro)
1 504 105
1 575 377
1 620 578
1 698 355
(% of GDP)
109.3
105.3
101.4
100.5
(million euro)
29 329
28 608
27 589
26 702
(% of GDP)
2.1
1.9
1.7
1.6
(million euro)
2 653 997
2 833 826
2 935 236
2 991 056
(million euro)
-125 896
-151 920
-169 118
-151 592
(% of GDP)
-4.7
-5.4
-5.8
-5.1
(% of GDP)
58.4
56.8
57.0
57.3
(% of GDP)
53.7
51.4
51.2
52.2
(million euro)
2 955 639
3 103 248
3 306 097
3 460 111
(% of GDP)
111.4
109.5
112.6
115.7
(million euro)
50 228
48 993
47 248
45 776
(% of GDP)
1.9
1.7
1.6
1.5
(million euro)
68 149
79 840
87 259
94 026
(million euro)
10
-947
-2 141
-2 827
(% of GDP)
0.0
-1.2
-2.5
-3.0
(% of GDP)
44.8
46.3
47.8
49.4
(% of GDP)
44.8
45.1
45.3
46.4
(million euro)
46 347
48 264
49 285
52 371
(% of GDP)
68.0
60.5
56.5
55.7
(million euro)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
1 998 269
2 141 761
2 210 595
2 265 003
(million euro)
-161 186
-151 966
-74 835
-69 736
(% of GDP)
-8.1
-7.1
-3.4
-3.1
(% of GDP)
54.9
53.6
50.3
51.1
(% of GDP)
46.8
46.5
46.9
48.0
(million euro)
2 764 638
2 870 273
2 967 833
3 097 093
(% of GDP)
138.4
134.0
134.3
136.7
(million euro)
44 122
43 037
41 503
40 211
(% of GDP)
2.2
2.0
1.9
1.8
(million euro)
29 697
33 144
36 298
38 314
(million euro)
795
553
1 445
1 360
(% of GDP)
2.7
1.7
4.0
3.6
(% of GDP)
37.7
39.8
36.7
37.9
(% of GDP)
40.4
41.4
40.7
41.5
(million euro)
23 745
23 056
21 814
20 053
(% of GDP)
80.0
69.6
60.1
52.3
(million euro)
355
343
327
312
(% of GDP)
1.2
1.0
0.9
0.8
(million euro)
36 017
39 475
41 108
43 649
(million euro)
-1 712
-882
-745
-1 085
(% of GDP)
-4.8
-2.2
-1.8
-2.5
(% of GDP)
44.0
43.3
44.7
45.3
(% of GDP)
39.2
41.0
42.9
42.8
(million euro)
16 024
17 570
18 796
20 153
(% of GDP)
44.5
44.5
45.7
46.2
(million euro)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
65 590
75 539
79 792
85 112
(million euro)
-352
-563
-1 025
-1 498
(% of GDP)
-0.5
-0.7
-1.3
-1.8
(% of GDP)
37.5
36.9
39.3
41.1
(% of GDP)
37.0
36.2
38.0
39.4
(million euro)
25 855
27 716
30 123
33 455
(% of GDP)
39.4
36.7
37.8
39.3
(million euro)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
76 731
82 115
87 320
91 342
(million euro)
198
-607
513
-1 604
(% of GDP)
0.3
-0.7
0.6
-1.8
(% of GDP)
45.0
47.3
46.8
48.7
(% of GDP)
45.2
46.6
47.3
46.9
(million euro)
19 133
20 284
22 643
23 749
(% of GDP)
24.9
24.7
25.9
26.0
(million euro)
617
602
580
562
(% of GDP)
0.8
0.7
0.7
0.6
(million HUF)
65 914 002
75 333 227
81 506 281
87 307 647
(million HUF)
-4 101 400
-5 252 876
-4 185 561
-4 144 995
(% of GDP)
-6.2
-7.0
-5.1
-4.7
(% of GDP)
49.1
49.6
47.2
47.6
(% of GDP)
42.9
42.7
42.1
42.9
(million HUF)
48 854 838
55 132 774
59 866 586
64 923 071
(% of GDP)
74.1
73.2
73.5
74.4
(million HUF)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
18 028
20 915
23 079
24 664
(million euro)
-952
-928
-815
-506
(% of GDP)
-5.3
-4.4
-3.5
-2.1
(% of GDP)
38.3
35.8
37.4
37.1
(% of GDP)
33.0
31.4
33.9
35.1
(million euro)
9 040
9 818
10 621
11 410
(% of GDP)
50.1
46.9
46.0
46.3
(million euro)
223
218
210
203
(% of GDP)
1.2
1.0
0.9
0.8
(million euro)
993 820
1 050 133
1 115 252
1 170 579
(million euro)
41
-3 612
-8 075
-18 895
(% of GDP)
0.0
-0.3
-0.7
-1.6
(% of GDP)
43.3
44.0
44.6
45.2
(% of GDP)
43.3
43.7
43.9
43.6
(million euro)
481 198
481 635
491 251
523 720
(% of GDP)
48.4
45.9
44.0
44.7
(million euro)
14 086
13 740
13 850
12 837
(% of GDP)
1.4
1.3
1.2
1.1
(million euro)
449 385
479 908
499 950
518 196
(million euro)
-15 325
-12 249
-22 953
-21 372
(% of GDP)
-3.4
-2.6
-4.6
-4.1
(% of GDP)
53.0
52.1
54.6
54.6
(% of GDP)
49.6
49.5
50.1
50.4
(million euro)
351 144
371 618
395 047
418 374
(% of GDP)
78.1
77.4
79.0
80.7
(million euro)
6 858
6 689
6 451
6 250
(% of GDP)
1.5
1.4
1.3
1.2
(million PLN)
3 100 850
3 415 274
3 669 531
3 915 394
(million PLN)
-104 475
-177 442
-236 562
-283 615
(% of GDP)
-3.4
-5.2
-6.4
-7.2
(% of GDP)
43.2
46.9
49.2
50.9
(% of GDP)
39.9
41.7
42.8
43.6
(million PLN)
1 512 812
1 691 261
2 012 620
2 335 137
(% of GDP)
48.8
49.5
54.8
59.6
(million PLN)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
243 957
270 353
291 153
308 538
(million euro)
-757
3 030
2 107
2 045
(% of GDP)
-0.3
1.1
0.7
0.7
(% of GDP)
43.9
42.0
42.2
42.3
(% of GDP)
43.6
43.2
42.9
43.0
(million euro)
271 358
261 889
270 859
275 075
(% of GDP)
111.2
96.9
93.0
89.2
(million euro)
953
852
701
602
(% of GDP)
0.4
0.3
0.2
0.2
(million RON)
1 378 461
1 587 957
1 767 517
1 929 930
(million RON)
-90 035
-105 087
-161 734
-149 731
(% of GDP)
-6.5
-6.6
-9.2
-7.8
(% of GDP)
41.1
41.2
43.2
43.4
(% of GDP)
34.6
34.5
34.0
35.6
(million RON)
665 491
784 235
964 808
1 137 587
(% of GDP)
48.3
49.4
54.6
58.9
(million RON)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
(million euro)
56 901
64 119
67 478
71 171
(million euro)
-1 714
-1 652
-572
-1 812
(% of GDP)
-3.0
-2.6
-0.8
-2.5
(% of GDP)
47.6
46.4
46.4
48.9
(% of GDP)
44.6
43.9
45.6
46.3
(million euro)
41 395
43 739
44 755
46 332
(% of GDP)
72.7
68.2
66.3
65.1
(million euro)
1 161
1 133
1 092
1 058
(% of GDP)
2.0
1.8
1.6
1.5
(million euro)
110 099
124 141
132 032
138 735
(million euro)
-1 722
-6 573
-7 162
-6 146
(% of GDP)
-1.6
-5.3
-5.4
-4.4
(% of GDP)
43.0
48.1
46.8
47.3
(% of GDP)
41.5
42.8
41.3
42.9
(million euro)
63 508
68 882
77 728
83 957
(% of GDP)
57.7
55.5
58.9
60.5
(million euro)
1 978
1 973
1 971
1 955
(% of GDP)
1.8
1.6
1.5
1.4
(million euro)
265 669
272 735
276 151
281 783
(million euro)
-477
-8 069
-12 277
-10 745
(% of GDP)
-0.2
-3.0
-4.4
-3.8
(% of GDP)
52.7
56.1
57.9
57.5
(% of GDP)
52.5
53.1
53.4
53.7
(million euro)
196 844
210 542
227 752
249 225
(% of GDP)
74.1
77.2
82.5
88.4
(million euro)
4 429
4 320
4 166
4 036
(% of GDP)
1.7
1.6
1.5
1.4
(million SEK)
5 816 415
6 143 187
6 443 039
6 644 105
(million SEK)
58 367
-60 492
-99 904
-103 099
(% of GDP)
1.0
-1.0
-1.6
-1.6
(% of GDP)
49.4
50.2
50.0
49.3
(% of GDP)
50.4
49.2
48.5
47.8
(million SEK)
2 001 889
1 982 688
2 190 796
2 330 763
(% of GDP)
34.4
32.3
34.0
35.1
(million SEK)
0
0
0
0
(% of GDP)
0.0
0.0
0.0
0.0
Notes for users
Revisions and timetable
In the previous provision of data for the excessive deficit procedure, the 2025 government deficit for the euro area (EA20) was 2.9% of GDP, for the EU it was 3.1% of GDP, and the government debt was 87.8% of GDP for the euro area and 81.7% for the EU. See News release of 22 April 2026.
Methods and definitions
According to Article 14 (1) of Council Regulation (EC) 479/2009, Eurostat publishes the actual government deficit and debt data for the application of the Protocol on the excessive deficit procedure, within three weeks after the reporting deadlines.
The Protocol on the excessive deficit procedure annexed to the EC Treaty, defines government deficit (surplus) as the net borrowing (net lending) of the whole general government sector (central government, state government, local government and social security funds). It is calculated according to national accounts concepts (European System of Accounts, ESA 2010). Government debt (commonly known as Maastricht or EDP debt) is the consolidated gross debt of the whole general government sector outstanding at the end of the year (at nominal value).
– for deficit / surplus and GDP data, the annual average exchange rate;
– for the stock of government debt, the end of year exchange rate.
General government total expenditure and revenue are reported to Eurostat under the ESA 2010 transmission programme. They cover non-financial transactions of general government, and include both current and capital transactions. For definitions, see Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.
Intergovernmental lending
For the purpose of consolidation of general government debt in European aggregates and to provide users with information, Eurostat is collecting and publishing data on government loans to other EU governments, including those made through the European Financial Stability Facility (EFSF). For the years 2022 to 2025 the intergovernmental lending figures relate mainly to lending to Greece, Ireland and Portugal.
Reservations and amendments
The term “reservations” is defined in article 15 (1) of Council Regulation (EC) 479/2009. The Commission (Eurostat) expresses reservations when it has doubts on the quality of the reported data.
According to Article 15 (2) of Council Regulation (EC) 479/2009, the Commission (Eurostat) may amend actual data reported by Member States and provide the amended data and a justification of the amendment where there is evidence that actual data reported by Member States do not comply with the quality requirements (compliance with accounting rules, completeness, reliability, timeliness and consistency of statistical data).
Geographical information
Up to 31 December 2025, the euro area included Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland (EA20). From 1 January 2026, the euro area also includes Bulgaria (EA21).
The aggregate data series commented on in this Euro indicator release refer to the official composition of the euro area in the most recent period for which data are available. Thus, Euro indicator releases with data up to 2025 comment on EA20 series, while releases with data for 2026 onwards will comment on EA21 series.
The European Union 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).
For more information
For further information on the methodology of statistics reported under the excessive deficit procedure, please see the Eurostat publication “Manual on Government Deficit and Debt – Implementation of ESA 2010 – 2022 edition“, published in February 2023.
Note on main revisions: Eurostat publishes on its website a note containing specific explanations of the largest revisions in deficit and debt for 2022-2025 between the April and October 2026 notifications, as well as in GDP.
Background note and supplementary tables on government interventions to support financial institutions: Eurostat publishes supplementary tables by Member State on the impact of the government support to financial institutions on its website. Eurostat also publishes a background note providing further information on the supplementary tables, including summary tables for the EU and the euro area. Table 2 of the background note shows government deficit/surplus data for 2024 and 2025 excluding the impacts of government interventions to support financial institutions. It should be noted that this adjusted measure of government deficit/surplus is only intended to be an improvement in the presentation of data for users.
Stock of liabilities of trade credits and advances: Eurostat publishes on its website, as complementary information on government liabilities, data on trade credits and advances, as reported by Member States for the years 2022 to 2025. According to Council Regulation (EC) 479/2009, the liabilities in trade credits and advances of government units are not part of EDP debt.
Stock-flow adjustment: Eurostat also publishes a note on the stock-flow adjustment which presents the contribution of deficit/surplus as well as other relevant factors to the variation in the debt level.
Eurostat will also be releasing information on the underlying government sector accounts on the government finance and EDP statistics section on its website.