Government debt to GDP ratio 95.6% in eurozone

By Gokhan Ergocun

ISTANBUL (AA) - As of the end of the first quarter of this year, the government debt to gross domestic product (GDP) ratio was 95.6% in the euro area, according to Eurostat data.

The ratio was 87.8% in the EU, official figures showed on Thursday.

Ratios were down from 95.7% and 88.1%, respectively, at the end of the last quarter of 2021.

"For both the euro area and the EU, the slight decrease in government debt to GDP ratio is due to an increase in GDP outweighing the increase in government debt in absolute terms," Eurostat said.

Among member states, the highest ratios were posted by Greece (189.3%), Italy (152.6%), Portugal (127%), Spain (117.7%), and France (114.4%).

The lowest figures were seen in Estonia (17.6%), Luxembourg (22.3%), and Bulgaria (22.9%).