Eurozone deficit falls to lowest level in six years

 
William Turvill
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The Eurozone Crisis Deepens As Greece Attempts To Avoid Bankruptcy
The Eurozone's overall government deficit fell to 1.6 per cent in the first quarter of 2016 (Source: Getty)

The Eurozone’s deficit has fallen to its lowest level since the debt crisis six years ago, new figures show.

The 1.6 per cent of GDP deficit is down from 2.3 per cent in the final quarter of 2015.

Read more: The eurozone has heaved itself out of deflation - just

The figures show that Eurozone governments held back on spending.

Expenditure stood at 48 per cent of GDP across the governments, compared with 48.9 per cent in the previous quarter.

Revenues, though, decreased from 45.3 per cent to 44.9 per cent.

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