In both areas, the public deficit has maintained a downward trend since the first quarter of 2021 and compares, between April and June, with 6.8% in the euro area and 6.2% in the EU compared to the same period.

Also in the chain comparison, the deficit fell from 2.5% of GDP in the single currency countries and to 2.3% in the 27 Member States as a whole.

According to the EU Statistical Service, the decline in the deficit-to-GDP ratio in the euro area declined, due to a greater increase in total revenue in relation to total expenditure, as well as higher GDP compared to the first quarter of 2022.

Total revenues and expenditures continued to be influenced by public policies in response to the Covid-19 pandemic, but to a lesser extent than in previous quarters, highlights Eurostat.

Among the countries for which data are available, Portugal (3.0%), the Netherlands (2.4%), Lithuania (1.9%), Estonia (1.8%), Denmark (1.2% ), Austria (1.0%) and Luxembourg (0.6%) presented surpluses in public accounts.

Malta (-6.6%), Spain (-4.2%) and Belgium (-4.0%) recorded the highest public deficits in the second quarter.