Between April and June, the government debt to GDP ratio fell by 10.8 percentage points.
Portugal registered one of the highest declines in public debt in the European Union in the second quarter. Between April and June, the government debt to GDP ratio fell by 10.8 percentage points (pp). It was the fourth largest decline among the 27 member states, according to Eurostat this Friday.
At the end of the second quarter of 2022, Portugal’s public debt represented 123.4% of the national gross domestic product – in the same period of 2021, it was at 134.2%. Despite the decrease, Portugal still has the third highest public debt to GDP ratio among the 27 countries of the European Union.
Greece, Cyprus and Croatia were the countries with the highest reductions in the public debt ratio between April and June compared to the same period in 2021. Despite the 25.4 percentage point decrease, Greece still has the highest percentage of public debt to GDP ratio, at 182.1%.
Italy remains the second most indebted country in the EU, at 150.2% of GDP, although it has decreased by 5.3 percentage points compared to the second quarter of 2021.
Compared to the first quarter, Cyprus (-6.8 percentage points), Greece (-6.3 percentage points), and Croatia (-3 percentage points) were the three countries with the highest decline in the public debt to GDP ratio.