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Eurozone's budget deficit falls

Berlin - The eurozone's budget deficit fell to 3.7% of gross domestic product (GDP) last year but the region's debt levels continued to rise, data released Monday showed.

The region's combined deficit stood at 4.2% in 2011, the EU's statistics office Eurostat said, confirming figures published in April.

The 17-member currency bloc's debt level climbed to 90.6% of GDP last year, well above the 60% that is required under the rules for euro members states.

The region's combined government debt-to-GDP ratio stood at 80% in 2009.

Nations at the centre of the euro debt crisis recorded the highest deficit levels.

While Spain reported a budget deficit last year of 10.6% and a debt ratio of 86%, Greece had a deficit of 9% and debts totalling 156.9% of GDP, Eurostat said.

Eurozone states are required to have a deficit of 3% of GDP.

The currency bloc's budget deficit stood at 6.4% in 2009 as the region fell deeper into recession.


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