Eurostat: Greece’s public debt 176% GDP in third quarter of 2014

The European Commission’s statistics authority Eurostat has published its latest figures regarding debt in the European Union…

The European Commission’s statistics authority Eurostat has published its latest divs regarding debt in the European Union, according to which Greece’s public debt increased to 176% GDP in the third trimester of 2014, from 171% in the same trimester of 2013.

In greater detail, Greece’s debt was 176% GDP (315.5 billion euros) in the third trimester, compared to 177.5% (317.5 billion euros) in the second trimester and 117% (317.7 billion euros) in the third trimester of 2013.

After Greece, the countries with the highest public debt are Italy (131.8% GDP), Portugal (131.4% GDP) and Ireland (114.8%). The countries with the smallest debt are Estonia (10.5% GDP), Luxemburg (22.9% GDP) and Bulgaria (23.6% GDP).

Overall, the public debt in the Eurozone marginally increased to 92.1% GDP in the third trimester, compared to 91.1% from 2013. The public debt for the EU members also increased to 86.6% GDP, from 85.3% GDP in 2013.

During the third trimester of 2014 the public debt of 18 EU members increased; the greatest increases were documented in Slovenia (16.8 base points), Croatia (7.3 base points) and Bulgaria (6.6 base points).

Of the 10 EU members states that saw their debt decrease in the third trimester, the greatest reductions were documented in Ireland (9.4 base points), Poland (8 base points) and Luxembourg (5 base points).

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