🍁 Autumn 2024 #ECForecast: 🇬🇷 Greece
ℹ️ https://t.co/exsg5rdIFz pic.twitter.com/2HSeOfQN2r
— EU Economy & Finance (@ecfin) November 15, 2024
Instead, for example:
– Germany will have a deficit of 2.2% this year and 2% in 2025
– the Netherlands will have a deficit of 0.2% this year and 1.9% next year
– Belgium will have a deficit of 4.6% this year and 4.9% in 2025
Only Ireland (4.4%), Cyprus (3.5%), Denmark (2.3%) and Portugal (0.6%) will have balanced or surplus budgets in Europe this year. Overall, the eurozone will have a deficit of 3% and a deficit of 2.9% in 2025.
On this basis, the debt-to-GDP ratio has been falling in recent years and is projected to reach 153.1% in 2024, before falling further to 146.8% of GDP in 2025 and 142.7% in 2026. It declines by 2/3 (67%) between 2020 and 2026!
This is the largest debt reduction in the EU which is “driven by primary surpluses, nominal growth and a reduction in cash reserves in 2024” as noted in the Commission’s report, thus also referring to early debt repayment using the “cash cushion”.
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Publish date : 2024-11-15 05:40:00
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