Estonia's government debt to GDP ratio EU's lowest in third quarter of 2016
At the end of the third quarter of 2016, the lowest ratio of government debt to gross domestic product (GDP) was recorded in Estonia at 9.6 percent, followed by Luxembourg at 21.5 and Bulgaria at 28.7 percent. In comparison, the highest ratios were recorded in Greece (176.9 percent), Portugal (133.4 percent) and Italy (132.7 percent).
According to a fresh news release by Eurostat, the statistical office of the EU, at the end of the third quarter of 2016, the government debt to GDP ratio of the euro area (EA19) totaled 90.1 percent, down from 91.5 percent year over year and 91.2 percent at the end of the previous quarter. In the EU28, the ratio totaled 83.3 percent, down from 85.9 percent year over year and 84.2 at the end of the previous quarter.
Government debt by member state
Compared to the second quarter of 2016, six member states registered an increase and 22 a decrease in their debt to GDP ratio. The highest increases were recoded in Cyprus (+3.1 percent), Portugal (+1.6 percent) and Lithuania (1.1 percent); the largest decreases were recorded in Greece (-2.9 percent), Italy (-2.8 percent) and Austria (2.3 percent).
Compared to the second quarter of 2015, 11 member states registered an increase and 17 a decrease in their debt to GDP ratio at the end of the third quarter of 2016. The highest increases were recorded in Greece (+4.4 percent), Lithuania (+3.1), Portugal (+2.9 percent) and Bulgaria (+2.1 percent), while the largest decreases were recorded in Ireland (-8.5 percent), the Netherlands (-4.3 percent) and Hungary (-3.2 percent).
Editor: Editor: Aili Vahtla