Portuguese public debt gets to 124.8% of GDP in 2017

  • ECO News
  • 22 October 2018

Portugal has the third highest government debt to GDP ratio in the EU, at 124.8%. 15 Member States have government debt ratios higher than 60% of GDP, with the highest being Greece, Italy and Portugal

Portugal still has the third largest public debt in the European Union (EU) in 2017, although on Monday Eurostat revised its forecast to 124.8% of GDP, compared with 125.7% in its first notification in April.

The eurozone’s public debt was also revised, but increased, compared with the first notification, with the EU statistics office reporting an 86.8% Gross Domestic Product (GDP) ratio, compared with an estimated 86.7% April – a decline compared with 89.1% of GDP in 2016.

The EU’s public debt fell to 81.6% (against 83.3%), slightly below the 81.9% reported in the first Eurostat notification.

Fifteen Member States had a government debt of above 60%, the highest being in Greece (176.1% of GDP), Italy (131.2%), Portugal (124.8% – from 129.2% in 2016), Belgium (103.4%), France (98.5%) and Spain (98.1%).

The lowest debt-to-GDP ratios were observed in Estonia (8.7%), Luxembourg (23.0%), Bulgaria (25.6%), Czech Republic (34.7%), Romania (35.1%) and in Denmark (36.1%), according to Eurostat’s figures.