Greece stays by far the nation with the very best public debt in the complete Eurozone regardless of its discount of two.1% for 2023, a proven fact that rings the bell of alarm for the Greek economic system. The truth is, the nation’s debt is greater in comparison with 2009. These contradictory figures are delivered to gentle by Eurostat in a brand new report, stating on the similar time that within the Eurozone public debt elevated barely to 88.7% of GDP in comparison with final quarter of 2023 (88.2%).
The Greek debt is steadily growing
In line with the information revealed on 22/7/2024 by Eurostat, Greece’s debt is at 158% of GDP, reaching 356 billion euros. The truth is, in 2009, when the Greek disaster started, the Greek public debt was 126.3% of GDP, which raises questions relating to the best way the federal government manages the general public debt, whereas, on the similar time, it’s confirmed that it’s growing with regular tempo through the years. In 2024, it’s anticipated to achieve 152.3% of GDP, whereas in response to the forecasts of the score company Scope, it’ll transfer just a little decrease, at 152.1% of GDP.
What about the remainder of the nations?
The very best ratios of public debt to GDP on the finish of the fourth quarter of 2023 had been recorded in Italy (137.7%), France (110.8%), Spain (108.9%), Belgium (108.2 %) and Portugal (100.4%), and the bottom had been recorded in Bulgaria (22.6%), Estonia (23.6%) and Luxembourg (27.2%).
In comparison with the fourth quarter of 2023, twenty Member States recorded a rise of their debt to GDP on the finish of the primary quarter of 2024 and 7 a lower. The biggest will increase in debt had been seen in Slovakia (+4.6 pp – p.p.), Estonia (+4.0 p.p.), Belgium (+3.1 p.p.), Romania (+2.8 p.m.), Hungary (+2.5 p.m.) and Austria (+2.1 p.m.).
On the similar time decreases had been recorded in Cyprus and the Netherlands (each -1.2 p.p.), Sweden and Eire (each -0.8 p.p.), Bulgaria (-0, 5 am) and Germany (-0.2 am).
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