Analytics, Budget, EU – Baltic States, Financial Services

Latvia's budget deficit in 2013 was EUR 224 million, in comparison with 294 million in 2012. The lowest budget deficit last year was registered in Estonia – 0.2% of the GDP, Denmark – 0.8, Latvia and Sweden – 1.1%.

Lithuania's budget deficit in 2013 made up 2.2%.

While Luxembourg last year registered an excess in budget amounting 0.1%, but Germany had a balanced budget.

The largest budget deficit in 2013 was registered in Slovenia – 14.7, Greece – 12.7, Ireland – 7.2 and Spain – 7.1%.

In ten member states budget deficit exceeded the EU's fixed 3% level.

In all 28 EU countries budget deficit in 2013 has decreased to 3.3%, in comparison with 3.9 in 2012. But budget deficit in the Eurozone last year shrunk to 3% of the GDP, in comparison with 3.7% a year ago.

Meanwhile the debt amount of Latvia last year increased to 87.1% of the GDP, in comparison with 85.2 in 2012. Latvia's debt amount in the Eurozone increased from 90.7 to 92.6%.

Latvia's debt last year made up 38.1% of the GDP, which is the fourth lowest level in the EU. In 2012 Latvia's debt was 40.8% of the GDP.

The lowest amount of debt regarding the GDP, last year was registered in Estonia – 10, Bulgaria – 18.9, Luxembourg – 23.1, Latvia and Romania – 38.4, Lithuania – 39.4, and Sweden – 40.6%.

The highest level of debt was recorded in Greece – 175.1, Italy – 132.6, Portugal – 129 and Ireland – 123.7%.

Last year, 16 countries exceeded the debt limit of 60% of the GDP, fixed for the EU countries.