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Sweden presents itself as the only EU country with budget surpluses

Thursday, 10 November 2011
Sweden is the only EU country which is expected to have surplus in its budget for the next two years according to an assessment of the EU Commission in its autumn forecast.

Sweden's budget is expected to show a surplus of 0.7 percent next year and 0.9 percent 2013. In all other EU countries, their numbers show flashing red digits in both years according to the forecast made by the European Commission in a recent economic assessment.


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Worst in the class is Ireland with a budget deficit forecast to be 8.6 percent next year and 7.8 percent 2013. For Greece, the projected deficit is of 7.0 percent next year and 6.8 percent in 2013.

Greece would thus be missing its budget target, which is set to be minus 6.5 percent next year, according to news reports based of reaction the budget forecasts. Also, Italy, Portugal, Spain and Belgium are on track to miss their budget target for one or both of the two subsequent years.

With regard to the forecast of growth in Sweden, things will not stand out in the same way. The economy is expected to grow by 1.4 percent next year and by 2.1 percent in 2013.

The forecast for Lithuania is at the top for 2012 with an expected growth of 3.4 percent. The next year the forecast is highest for Estonia and Latvia, whose economy is forecast to grow by 4.0 percent.
By Scancomark.se Team

Gross debt, percent of GDP  2011  2012  2013
The euro area 88 90.4 90.9
EU-27 82.5 84.9 84.9
Germany 81.7 81.2 79.9
France 85.4 89.2 91.7
Italy 120.5 120.5 118.7
Belgium 97.2 99.2 100.3
Greece 162.8 198.3 198.5
Portugal 101.6 111 112.1
Finland 49.1 51.8 53.5
Ireland 108.1 117.5 121.1
Spain 69.6 73.8 78
Cyprus 64.9 68.4 70.9
Estonia 5.8 6 6.1
Luxembourg 19.5 20.2 20.3
Malta 69.6 70.8 71.5
The Netherlands 64.2 64.9 66
Austria 72.2 73.3 73.7
Slovenia 45.5 50.1 54.6
Slovakia 44.5 47.5 51.1
UK 84 88.8 85.9
Sweden 36.3 34.6 32.4
Denmark 44.1 44.6 44.8
Latvia 44.8 45.1 47.1
Lithuania 37.7 38.5 39.4
Bulgaria 17.5 18.3 18.5
Czech Republic 39.9 41.9 44
Hungary 75.9 76.5 76.7
Poland 56.7 57.1 57.5
Romania 34 35.8 35.9


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    Budget balance, percent of GDP 2011 2012
    2013
    The euro area -4.1 -3.4 -3
    EU-27 -4.7 -3.9 -3.2
    Germany -1.3 -1 -0.7
    France -5.8 -5.3 -5.1
    Italy -4 -2.3 -1.2
    Greece -8.9 -7 -6.8
    Portugal -5.8 -4.5 -3.2
    Finland -1 -0.7 -0.7
    Belgium -3.6 -4.6 -4.5
    Ireland -10.3 -8.6 -7.8
    Spain -6.6 -5.9 -5.3
    Cyprus -6.7 -4.9 -4.7
    Estonia 0.8 -1.8 -0.8
    Luxembourg -0.6 -1.1 -0.9
    Malta -3 -3.5 -3.6
    The Netherlands -4.3 -3.1 -2.7
    Austria -3.4 -3.1 -2.9
    Slovenia -5.7 -5.3 -5.7
    Slovakia -5.8 -4.9 -5
    UK -9.4 -7.8 -5.8
    Sweden 0.9 0.7 0.9
    Denmark -4 -4.5 -2.1
    Latvia -4.2 -3.3 -3.2
    Lithuania -5 -3 -3.4
    Bulgaria -2.5 -1.7 -1.3
    Czech Republic -4.1 -3.8 -4
    Hungary 3.6 -2.8 -3.7
    Poland -5.6 -4 -3.1
    Romania -4.9 -3.7 -2.9
    Source: European Commission