Estonia's general government gross debt lowest in Europe
Estonia had the lowest general government debt in the European Union at the end of the third quarter of 2022. Estonia's public debt accounted for 15.8 percent of GDP, compared to 85.2 percent on average across the European Union.
Eurostat data shows that Estonia's debt-to-GDP ratio fell by 0.9 percentage points compared to the second quarter.
Bulgaria came in second with 23.1 percent, followed by Luxembourg with 24.6 percent.
The average for the euro area in the third quarter was 93 percent, a drop of 1.2 percentage points from the second quarter.
In the third quarter, Greece held the highest public debt-to-GDP ratio, at 178.2 percent, followed by Italy at 147.3 percent and Portugal at 120 percent.
The ratio of public debt to GDP was 39.9 percent in Latvia, 37.3 percent in Lithuania, and 70.0 percent in Finland.
Compared to the second quarter of 2022, the ratio of public debt to GDP decreased in 23 countries. It grew by 1.9 percentage points in Bulgaria, 1.7 percentage points in the Czech Republic, 0.3 percentage points in France, and 0.2 percentage points in Sweden.
The highest decreases were in Greece, with 5.3 percentage points, and Cyprus with 3.8 percentage points.
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Editor: Kristina Kersa
