According to Eurostat’s divs, the Greek primary surplus was estimated to be 3.4 billion euros, while the Economic Policy Program estimated the surplus at 1.5 billion euro. Furthermore, the General Government’s deficit in 2013 was estimated to be 23.109 billion euros, while the debt was 318.703 billion euros. Not including subsidies towards the banks, the General Government’s deficit was 2.1% less than EU and Eurozone averages.
Greece’s fiscal deficit during 2013 was 12.7% GDP, while the European statistics authority estimated that the public debt was 175.1% GDP, the highest rate amongst the 27 EU members. Greece’s fiscal deficit rate is the second highest in the EU, trailing behind Slovenia’s 14.7% GDP rate. Luxembourg had a fiscal surplus of 0.1% GDP, while Germany’s had a balanced budged. The lowest fiscal deficit was documented in Estonia (0.2% GDP), while only 10 EU member states had a deficit over 3%
Regarding public debt, the lowest rates were documented in Estonia (10%), Bulgaria (18.9%), Luxembourg (23.1%), Latvia (38.1), Romania (38.4%), Lithuania (39.4%) and Sweden (40.6%). Conversely, 16 members had a public debt rate higher than 60% GDP, with the highest rates documented in Greece (175.1%), Italy (132.6%), Portugal (129%), Ireland (123.7%), Cyprus (111.7%) and Belgium (101.5%).
Overall the fiscal deficit of the 28 EU members and the Eurozone dropped in 2013, compared to the rate in 2012, while the debt increased. The fiscal deficit for the Eurozone dropped from 3.7% GDP in 2012 to 3% in 2013, while in the EU it dropped from 3.9% to 3.3%. The rate of public debt in the Eurozone increased from 90.7% in 2012 to 92.6% in 2013, while for the EU debt grew fro 85.2% to 87.1%.
