The figures increased compared to Q3’s 3.6 per cent and 3.5 per cent for the euro area and EU respectively, according to the EU statistical office Eurostat.

In Q4 2023, total government revenue in the euro area amounted to 46.6 per cent of GDP, a decrease compared with 46.7 per cent in Q3. This was due to an increase of seasonally-adjusted government total revenue in absolute terms as well as a comparatively stronger increase in nominal GDP.

In absolute terms, seasonally-adjusted total revenue in the euro area increased by around €21 billion (~$22.41 billion) compared with Q3 2023 figure.

Total government expenditure in the euro area stood at 50.7 per cent of GDP, an increase in the ratio compared with 50.2 per cent in the previous quarter, due to a rise in seasonally-adjusted total government expenditure by around €42 billion (~$44.83 billion).

In the EU, total government revenue was 46.2 per cent of GDP in Q4 2023, unchanged compared to the previous quarter.

Seasonally-adjusted total revenue in the EU increased by around €30 billion (~$32 billion) compared with Q3 2023. Government total expenditure in the EU was 50.2 per cent of GDP, an increase compared with 49.7 per cent of GDP in the previous quarter.

Seasonally-adjusted total expenditure increased by around €54 billion (~$57.66 billion) compared with the previous quarter.

Fibre2Fashion News Desk (DS)