Deficit

An update of the budget for this year will be discussed at an extraordinary meeting of the government on Monday, July 15, Bulgaria's Finance Minister Vladislav Goranov said in an interview for Focus Radio on July 12, reports BNT.

Greece's current account balance showed a wider deficit in November compared to the same month a year ago, on the back of a larger trade gap and a weaker primary income balance, the Bank of Greece said on Monday.

Central bank data showed the deficit at 1.417 billion euros from a deficit of 1.125 billion euros in November 2017.

In the previous Note, we considered the relationship between nominal GDP growth, the fiscal deficit, and the evolution of the debt/GDP ratio. We noted that the math only works if the deficit accurately and truly reflects all the pressures on the stock of debt. In this Note, we can look at this issue in more detail with past data for Greece from 1995-2017.

On 22 June 2018, the Council closed the excessive deficit procedure for France, confirming that it has reduced its deficit below the EU's 3% of GDP reference value.

The Council thereby abrogated its decision of April 2009 on the existence of an excessive deficit in France.

Greece's current account deficit widened in January compared to the same month a year earlier on the back of a worsening in the trade and services balances, the Bank of Greece said on Friday.
 

The current account of Romania's 2017 balance of payments ran a deficit of over 6.464 billion euro, up 84.79 percent from 2016, the National Bank of Romania (BNR) said in a release on Tuesday.

Britain’s trade deficit has risen to a five-month high, official data showed on Jan. 10, sparking concern over looming Brexit talks.

According to the final data of the National Statistical Institute the General Government Institutional Sector reported in 2016 a deficit of 36 million BGN or 0.04% of GDP. The deficit in Central Government amounted to 130 million BGN or 0.14% of GDP. The Local Government subsector reported a surplus of 73 million BGN and the sub-sector Social Security Funds 21 million BGN.

As the Croatian government prepares to spend more on 1990s war veterans, as well as purchasing 12 military jets and covering debts in the health sector, it risks increasing the country's budget deficit, experts warned.

Greece's current account deficit contracted in April compared to the same month a year earlier, thanks to a lower trade gap and an increase in the primary income surplus, the Bank of Greece said on Tuesday.

The data showed the deficit at 462 million euros from 872 million euros in April 2016.