Estonia was followed by Luxembourg with 20.8 percent, Bulgaria with 29 percent, and the Czech Republic with 36.8 percent. The highest debt level, 180.8 percent, was recorded in Greece, followed by Italy with 132 percent, and Portugal with 130.1 percent.

In the eurozone the average debt ratio was 88.9 percent of GDP and the average debt ratio in the European Union stood at 83.2 percent. The government deficit to GDP ratio in the eurozone and the European Union was 1.5 percent and 1.7 percent, respectively.

The highest government surplus, 1.6 percent, was recorded in Luxembourg, followed by Malta and Sweden both with 1.1 percent. The lowest government deficits as a percentage of GDP were recorded in Estonia with 0.3 percent, Denmark with 0.6 percent and Ireland with 0.7 percent. The highest deficit, 4.5 percent, was recorded in Spain, followed by France with 3.4 percent.

Estonia’s government deficit in 2016 amounted to €61 million, or 0.3 percent of GDP. Government expenditure reached 40.6 percent of GDP, and government revenue amounted to 40.3 percent of GDP.

Government expenditure in the eurozone on average amounted to 47.6 percent of GDP, while average revenue reached 46.1 percent of GDP.