Government total revenue in the euro area amounted to 46.8 per cent of GDP in the second quarter, compared with 46.9 per cent in the first quarter. Eurostat attributed the lower ratio to an increase of around €21 billion (~$23.6 billion) in seasonally adjusted government total revenue in absolute terms being outweighed by growth in nominal GDP. Total expenditure stood at 50.1 per cent of GDP, up from 50.0 per cent, as seasonally adjusted total government expenditure rose by around €28 billion (~$31.5 billion). Across the EU, government total revenue was 46.3 per cent of GDP in the second quarter, down from 46.4 per cent in the previous quarter, as an increase of around €25 billion (~$28.
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