According to data published this Monday by Eurostat, public debt in the euro area fell in the third quarter of 2022 to 93.0% of GDP, and in the European Union (EU) to 85.1%.
In the euro area, public debt fell to 93.0% of gross domestic product (GDP) from 97.3% recorded in the third quarter of 2021 and 94.2% between April and June 2022.
In the EU, the debt-to-GDP ratio declined quarterly (86.4%) and year-on-year (89.7%).
Between July and September 2022, Portugal maintained the third largest public debt in the EU (120.1%), after Greece (178.2%) and Italy (147.3%), and Estonia (15.8%), Bulgaria (23.1%) and Luxembourg (24.6%) had the lowest debt in Q3 2022.
Public debt declined in 23 member states, primarily in Greece, where it fell by 5.3 percentage points (pp), Cyprus (-3.8 p.p.), Portugal (-3.3 p.p.). ), Italy (-3.0 p.p.) and Croatia (-2.8 p.p.).
Bulgaria (1.9 p.p.), Czech Republic (1.7 p.p.), France (0.3 p.p.) and Sweden (0.2 p.p.) were Member States where there was an increase in public debt in relation to GDP.
Both in the euro area and across the 27 member states as a whole, the reduction in the public debt burden is associated with GDP growth, according to the EU statistics service.
Author: Portuguese
Source: CM Jornal
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