Things are calming down

In the second quarter of 2017, there was a slight drop in EU and eurozone government debt

In the second quarter of 2017, government debt – calculated as a percentage of gross domestic product (GDP) – in the 19 countries of the eurozone and in the EU as a whole has been relatively stable, according to the data provided by Eurostat at the end of 2017.

There has been a slight decline (-1.1% for the eurozone and -0.4% for the EU) compared to the same period of last year.

Among the countries most in debt are Belgium, Portugal, Cyprus, Greece, and Italy. Rome recorded 134.7% debt as a percentage of GDP, which adds up to 2,281,978 euros: this makes Italy, after Greece, the country most in debt in the EU. According to the convergence criteria of the euro, national debt should not exceed 60% of GDP.

Among the countries least in debt are, not too surprisingly, Luxembourg (23.4%), followed by Bulgaria (27.7%), Romania (37.2%) and Norway (35.8%).

Quarterly government debt is defined as the total gross debt at the end of each quarter: the data is measured in millions of euros, millions of national monetary units, as percentage of GDP and of the total debt, and is provided to Eurostat by national authorities (national statistics institutes, central banks or finance ministers).