Industrial Relations in Europe 2012 - European Commission - Europa

Table 4.3. Economic growth, government debt and deficit/surplus, 2007-2011
Country GDP Deficit/surplus (% of GDP) Debt (% of GDP)
% Change
2007-2011
2011 % point change
2007-2011
2011 % point change
2007-2011
EU-27 -0.4 -4.4 -3.5 82.5 23.5
BE 2.4 -3.9 -3.8 97.8 13.8
BG 2.5 -2.0 -3.2 16.3 -0.9
CZ 2.8 -3.2 -2.5 40.8 12.9
DK -3.9 -2.0 -6.8 46.6 19.5
DE 2.9 -0.8 -1.0 80.5 15.3
EE -7.8 1.2 -1.2 6.1 2.4
IE -6.8 -13.3 -13.4 106.4 81.3
EL -14.7 -9.5 -2.7 170.6 63.2
ES -2.8 -9.4 -11.3 69.3 33.0
FR 0.1 -5.2 -2.4 86.0 21.8
IT -4.5 -3.8 -2.2 120.7 17.4
CY 3.5 -6.3 -9.8 71.1 12.3
LV -16.9 -3.4 -3.0 42.2 33.2
LT -5.8 -5.5 -4.5 38.5 21.7
LU -0.4 -0.3 -4.0 18.3 11.6
HU -3.1 4.3 9.4 81.4 14.4
MT 5.5 -2.7 -0.4 70.9 9.0
NL 0.7 -4.4 -4.6 65.5 20.2
AT 2.3 -2.5 -1.5 72.4 12.2
PL 15.8 -5.0 -3.1 56.4 11.4
PT -2.6 -4.4 -1.2 108.1 39.7
RO 1.3 -5.5 -2.6 33.4 20.6
SI -3.0 -6.4 -6.4 46.9 23.8
SK 8.3 -4.9 -3.1 43.3 13.7
FI -2.6 -1.1 -6.4 49.0 13.8
SE 4.3 0.2 -3.4 38.4 -1.8
UK -2.3 -7.8 -5.0 85.0 40.8
Source: Eurostat (2012), http://epp.eurostat.ec.europa.eu/
Table 4.3 provides an overview of the economic and public finance situation across the EU in 2011
and trends since 2007, which is the last year of growth before the current crisis and a particularly
challenging benchmark for performance thereafter. Economic trends present quite a varied picture
as many countries succeeded in coping with the economic downturn and achieved some growth.
Countries at the centre of the sovereign debt crisis and the Baltic economies have recorded the most
significant falls in GDP.
In terms of government deficit to GDP ratios, the position deteriorated in most countries from 2008
to 2009. Even in 2008, there were only seven countries with a surplus, namely Bulgaria (1.7% of
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