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Estonia continues to have EU's lowest debt burden

Euros.
Euros. Source: Siim Lõvi /ERR

Estonia had the lowest level of government debt in the European Union in the third quarter of 2023, continuing a long term trend. Greece had the highest.

Estonia's debt was 18.2 percent of its gross domestic product (GDP). Compared to the third quarter of 2022, increased by 2.3 percentage points, the EU's statistical office said.

Estonia was followed by Bulgaria (21 percent), Luxembourg (25.7 percent), and Sweden (29.7 percent).

The debt burden was highest in Greece (165.5 percent), followed by Italy (140.6 percent), France (111.9 percent), Spain (109.8 percent), and Belgium (108 percent). 

Debts increased in eight countries on year and fell in 19 member states. Greece also saw the highest rise by a rate of 12 percentage points.

In the euro area, the average was 89.9 percent of GDP, a decrease of 2.3 percentage points year-on-year. 

In the EU as a whole, the public debt average was 82.6 percent of GDP, decreasing by 2 percentage points over the year.

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Editor: Helen Wright

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