Portugal has third highest public debt to GDP ratio in EU
At the end of 2020, the highest public debt-to-GDP ratios were reported by Greece (206.3%), Italy (155.6%), Portugal (135.2%) and Spain (120%).
The ratio of public debt to GDP increased in 2020 to 97.3% in the eurozone and 90.1% in the European Union, with Portugal (135.2%) remaining the third-highest among member states, Eurostat reports.
According to data from the European statistics office, in the eurozone, the ratio of public debt to gross domestic product (GDP) increased from 83.6% at the end of 2019 to 97.3% at the end of 2020, and in the European Union (EU) from 77.2% to 90.1%.
Public debt increased in 2020 compared to 2019 in both the eurozone and the EU as part of the measures taken in response to the pandemic, Eurostat justifies.
At the end of 2020, the lowest public debt-to-GDP ratios were reported by Estonia (19.0%), Bulgaria (24.7%), Luxembourg (24.8%) and the Czech Republic (37.7%) and the highest in Greece (206.3%), Italy (155.6%), Portugal (135.2%) and Spain (120%).
EU budget rules – which have been suspended until 2022 (inclusive) due to the pandemic – stipulate a 60% of GDP limit on public debt.
