General government accountsThe public deficit continues to shrink slowly
In 2016, the public deficit as defined in the Maastricht Treaty amounts to €75.9 billion, i.e. 3.4% of gross domestic product (GDP). It shrinks by €2.8 billion, as spending contracts faster than revenues (-0.3 points and -0.1 points of GDP, respectively). The government deficit widens, that of the social security funds narrows, and local government bodies post a surplus. The total tax burden remains stable at 44.4% of GDP. The debt-to-GDP ratio increases by 0.7 points to reach 96.3%.