site.btaBulgaria Has Second Lowest Government Debt-to-GDP Ratio in EU at End-September 2023

The government debt-to-GDP ratio in the EU decreases to 82.6% at the end of 2023’s third quarter, compared to its level of 83% at the end of the previous quarter, according to the latest Eurostat data, published on Monday. The level of debt relative to GDP in the euro area has fallen, as well.

At the end of 2023’s third quarter, the lowest government debt-to-GDP ratio among EU countries was registered in Estonia (18.2%), Bulgaria (21%), Luxembourg (25,7%), Sweden (29.7%), and Denmark (30.1%). The highest government debt-to-GDP ratio is seen in Greece (165.5%), Italy (140.6%), France (111.9%), Spain (109.8%) and Belgium (108%).

Year-on-year, at the end of 2023’s third quarter, a total of 8 EU countries registered an increase in their debt-to-GDP ratio - Belgium (+2.5%), Estonia (+2.3%), Finland (+2%), Latvia (+1.3%), Slovakia, Romania and Luxembourg (+1% each), and Lithuania (+0.4%).

The highest debt-to-GDP ratio was observed in Cyprus (-5.6%), Portugal (-2.5%), Croatia (-2.2%), Italy (-1.8%), Greece (-1.6%) and Spain (-1.4%).