Government accounts in 2006 - Deficit and debt down
In 2006, the deficit, as set out in the Maastricht treaty, went down by 5.3 billion Euros to 45.5 billion Euros. It went from 3.0 % of GDP in 2005 to 2.5 % in 2006. The improvement was mainly due to increased tax revenues. Local government finances continued on a downward trend. The overall tax burden went up by 0.4 of a point to 44.2 %. Public debt went up to 1,142 billion by the end of 2006; as a percentage of GDP it went down by 2.5 points to settle at 63.7 %.