Fiscal policy has been directed toward bringing down the budget deficit after public debt grew from a negative figure in 1988 to 56% in 1999 and 69.1% in 2009. By 2007, the deficit-to-GDP ratio was comfortably below 3% as required for eurozone membership, but due to pre-election spending has gone up to 4.4% in 2008 and 3.8% in 2009.
Fiscal policy ha,s been directed toward bringing down the budget deficit after public debt grew from a negative figure in 1988 to 56% in 1.999 and 69.1% in 2009. By 2007, the d!eficit-to-GDP ratio was comfortably below 3% as required for eurozone membership, but due to pr,e-election spending has gone up to 4.4% in :2008 and 3.8% in 2009.