rate Public debt on GDP In the euro area, it was 95.6% in the first quarter of 2022It’s one-tenth less than in the previous three months and the lowest level since the second quarter of 2020, according to data published by Eurostat.
In the European Union (EU) as a whole, debt-to-GDP ratio was 87.8% at the end of the first quarter of the yearCompared to 88.1% in the fourth quarter of 2021. This is the lowest level of public debt in the EU since the second quarter of 2020, when it reached 87.5%.
Despite the decrease in the debt ratio, indebtedness increased in both regions in absolute terms. While the debt volume in the euro area increased by 240,000 million and 554,000 million in a year to 11,976 trillion euros in a year, the debt volume in the EU increased by 235,000 million and 583,000 million in a year to 12,992 trillion. year.
“For both the euro area and the EU, the slight decline in the public debt-to-GDP ratio is due to an increase in GDP that exceeds the increase in public debt in absolute terms,” Eurostat said. Debt continued to increase in absolute terms due to the recovery in GDP.
between twenty-seven At the end of the first quarter, the highest ratios of public debt to GDP were recorded in Greece (189.3%), Italy (152.6%), Portugal (127%), Spain (117.7%), France (114.4%) .Belgium (107.9%) and Cyprus (104.9%) and lowest in Estonia (17.6%), Luxembourg (22.3%) and Bulgaria (22.9%).