site.btaBulgaria Records Second-lowest Debt-to-GDP Ratio in EU in Q1 2023

Bulgaria was the country with the second-lowest ratio of government debt to gross domestic product (GDP) in the European Union - 22.5% at the end of the first quarter of 2023, according to the latest Eurostat data, published on Friday. The lowest ratio was recorded in Estonia (17.2%), and third-lowest - in Luxembourg (28%).

The average ratio is down: 83.7% compared to 83.8% in the final three months of last year.

If only the euro area countries are considered, the average government debt-to-GDP ratios also fell - from 91.4% at the end of December 2022 to 91.2% at the end of March.

A total of 6 EU countries report an increase in their government debt-to-GDP ratio in the first quarter of 2023 compared to the same period last year - Luxembourg (+5.4 percentage points), Czech Republic (+1.7 pp), Latvia (+1.1 pp) Romania (+0.7 pp), Bulgaria (+0.5 pp) and Finland (+0.2 pp).