EU: Government debt/GDP ratio drops to 77.8% in Q4

EU: Government debt/GDP ratio drops to 77.8% in Q4
# 23 April 2020 19:42 (UTC +04:00)

The EU's general government debt to GDP ratio was 77.8% at the end of the last quarter of 2019, according to Eurostat data released Thursday, APA reports citing Anadolu Agency.

The figure was down from 79.3% at the end of the second quarter of last year and 79.6% in the same quarter of 2018.

The ratio was 84.1% in the eurozone in the fourth quarter of the last year, down from 85.8% in the same quarter of the previous year.

Greece remained with the highest general government debt to GDP ratio in the bloc with 176.6%, a debt of €331.1 billion ($370.8 billion).

It was followed by Italy with 134.8%, Portugal with 117.7%, Belgium with 98.6% and France with 98.1%.

The lowest ratios were those of Estonia 8.4%, Bulgaria 20.4% and Luxembourg 22.1%.

On a quarterly basis, three member countries posted an increase in their debt to GDP ratio in the fourth quarter of 2019, while 24 posted a decrease.

On Thursday, Eurostat also announced the seasonally adjusted general government deficit to GDP ratio which stood at 0.7% both in the eurozone and EU27.

The eurozone/euro area or EA19 represents member states that use the single currency -- euro -- while the EU27 includes all member countries of the bloc.

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