Denmark to face the EU on its expected budget deficit fall below the 3 percent threshold.


Monday, 30 May 2011
The conservative Danish government announced on Monday that they expect a deficit of the central government finances to some Dkr74 billion this year, representing 4.1 percent of GDP.

If the forecast is as it is then it would mean that it has sunk below the EU 3 percentile rule as such it will be considered that Denmark is in serious public finances deficiency.

Moreover, the deficit would rise to 4.3 percent next year. The reason is said to be a change in tax law.
Last year was the deficit was 2.9 percent.
The Danish economy has struggled since the last financial crisis and as Sweden emerged as a star, Denmark continued to sink. 
By Team

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