The Slovenia Times

Slovenia Records Highest Q1 Debt Growth in EU

Nekategorizirano

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Government debt expressed as a ratio of GDP increased to 93.9% in the euro area and to 88% in the EU-28 compared with 92.7% and 87.2%, respectively, at the end of the fourth quarter of 2013. The ratios were also up year-on-year from 92.5% and 86.2%, respectively.

Overall, government debt of all euro countries at the end of the first quarter added up to EUR 9,056bn, totalling EUR 11,571bn in all 28 EU member states.

The highest ratios of government debt to GDP in the first quarter were recorded in Greece (174.1%), Italy (135.6%) and Portugal (132.9%), and the lowest in Estonia (10.0%), Bulgaria (20.3%) and Luxembourg (22.8%).

Compared to the quarter before, debt to GDP ratios increased in 19 member states, six recorded a decrease, while the figure was flat in Estonia.

After Slovenia, whose debt to GDP ratio rose by 7 percentage points, the most substantial growth quarter-on-quarter was registered by Hungary (+5pp), Belgium and Portugal (both +3.9pp).

The biggest falls were recorded by Poland (-7.6pp), Germany (-1.1pp) and Greece (-1pp).

Year-on-year, 16 member states saw an increase, the biggest Cyprus (+24.6pp), Slovenia (+23.9pp) and Greece (+13.5pp).

Eurostate data puts Slovenia's government debt at the end of the first quarter at EUR 27.97bn or 78.7% of GDP, which compares to Germany's ratio of 77.3%, France's 96.6%, Spain's 96.8% and the UK's 91.1%.

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