Government finance and excessive deficit procedure statistics

Government finance and excessive deficit procedure statistics provide an overview of key indicators of a country’s economic wealth. According to the EU Stability and Growth Pact, each Member State is obliged to keep its deficit and debt below certain limits: the government deficit may not exceed 3% of its gross domestic product (GDP), while its debt may not exceed 60% of GDP. If a Member State does not respect these limits, the excessive deficit procedure is initiated.