Portugal had third highest Q3 2022 state debt in EU
In the euro zone, public debt retreated to 93.0% of Gross Domestic Product (GDP) from 97.3% in the third quarter of 2021 and 94.2% between April and June 2022.
Public debt in the euro zone fell to 93.0% of GDP in the third quarter of 2022 and in the European Union (EU) to 85.1%, according to data released on Monday by Eurostat.
In the euro zone, public debt retreated to 93.0% of Gross Domestic Product (GDP) from 97.3% in the third quarter of 2021 and 94.2% between April and June 2022.
In the EU, the debt-to-GDP ratio decreased on a quarterly (86.4%) and year-on-year (89.7%) comparison.
Between July and September 2022, Portugal maintained the third highest public debt in the EU (120.1%), after Greece (178.2%) and Italy (147.3%), while Estonia (15.8%), Bulgaria (23.1%) and Luxembourg (24.6%) had the lowest debt in the third quarter of 2022.
Public debt fell in 23 member states, most notably in Greece, where it fell by 5.3 percentage points (pp), Cyprus (-3.8 pp), Portugal (-3.3 pp), Italy (-3.0 pp) and Croatia (-2.8 pp).
Bulgaria (1.9 pp), the Czech Republic (1.7 pp), France (0.3 pp) and Sweden (0.2 pp) were the member states where public debt as a proportion of GDP increased.
According to the EU’s statistical service, both in the euro zone and in the 27 member states as a whole, the decline in the share of public debt is due to a growth in GDP.
