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Macroeconomics  |  October 23, 2012 10:05:30

Eurostat: EMU budget deficit last year declined to 4.1% of GDP, total debt rose to 87.3% of GDP

Eurostat published yesterday EMU aggregate budget figures for 2011. Deficit to 2010 fell from 6.2% to 4.1% of GDP. Total debt EMU countries thus rose by almost 2 percentage points to 87.3% of GDP. Ireland is a record that crashed deficit from 30.9% to 13.4%. For this extreme number but it is worth the cost of the rescue domestic banks. But Germany must reduce the deficit of decent 3.3 pp to 0.8% and its total debt to GDP has fallen (nominal GDP grew faster).

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Eurostat: Deficit rozpočtu EMU vloni poklesl na 4,1% celkového HDP, celkový dluh narostl na 87,3% HDP

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