General government expenditure and revenue in the EU in 2003

European Commission Eurostat

Description

Economy and finance

Informations

• Publié par: EUROPEAN-COMMISSION-EUROSTAT
• Nombre de lectures: 31
• Langue: English

Extrait

Statistics

in focus

ECONOMY AND FINANCE

41/2004

Author Paula Borges

C o n t e n t s Government revenue and expenditure totals by country . 2

Main components of government expenditure .......... 2

Main components of government revenue................. 4

Government deficit and net saving......................................... 6

Manuscri pt completed on: 2  7.07.2004 ISSN 1024-4298 Catalogue number: KS-NJ-04-041-EN-N © European Communities, 2004

General government expenditure and revenue in the EU in 2003 z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z

In the framework of the ESA 95 transmission programme, European Union Member States have reported their provisional general government 1 expenditure and revenue data for 2003 .

2 Total general government expenditure in the EU-15 increased in 2003 to 48.4% of GDP, compared with 47.6% in 2002. Meanwhile, revenue increased more slowly to 45.8%, from 45.6% in the previous year. The general government deficit (more precisely, net borrowing according to the ESA 95 classification) therefore widened to 2.6% of GDP, from 2.0% in 2002.

eurozone

EU15

eurozone

EU15

42

44

Total general government expenditure

46

48

Total general government revenue

Figure 1: Total government revenue and expenditure (% of GDP)

50

3 For the euro-zone , both government expenditure and to a lesser extent government revenue, are higher than in the EU-15. Government expenditure in the euro-zone reached 49.2% of GDP in 2003, up from 48.4% in 2002. Revenue, meanwhile, rose from 46.1% to 46.4%, so the deficit widened to 2.8% of GDP in 2003, from 2.3%.

1 Commission Regulation (EC) No 1500/2000 implementing Council Regulation (EC) No 2223/96. Reporting of European System of Accounts (ESA 95) transmission table 2 by Member States to Eurostat is at t+3 and t+8 months. The general government sector comprises the sub-sectors central government, state government, local government, and social security funds. 2 EU-15 comprises the euro-zone countries plus Denmark, Sweden, and the UK. EU-25 data are presently not available, as data for 2003 are missing for five of the new Member States (Hungary, Malta, Poland, Slovenia, Slovakia). The new Member States are under a legal obligation to report the data for the first time at the end of August 2004. 3 Euro-zone comprises Belgium, Germany, Greece (from 1.1.2001), Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, and Finland.