The deficit of the state budget in the euro area in the first quarter was 0.1% in relation to GDP, declining from 0.6% in the fourth quarter of 2017, the data of the Statistical Office Eurostat showed. According to the European Union as a whole, the budget deficit decreased from 0.6% to 0.5%. Public debt declined in the EU countries from 81.6% to 81.5% in relation to GDP. At the same time, in the euro area, the deficit relative to GDP increased to 86.8% from 86.7% at the end of the fourth quarter of last year. The lowest indicators of public debt to GDP in the first quarter showed such countries as Estonia - 8.7%, Luxembourg - 22.2% and Bulgaria - 24.1%. The highest rates were recorded in Greece - 180.4%, Italy - 133.4% and in Portugal - 126.4%.
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