3 percent reference value

According to the Growth and Stability Pact for members of the eurozone, the national government deficit may not be higher than 3 percent of GDP while the government debt may not exceed 60 percent of GDP.
If a member state exceeds these reference values, it must make efforts to lower the deficit or debt. Member states with a debt in excess of 60 percent of GDP have to reduce the amount in excess of 60 percent by an average of one twentieth per year.
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