Eurostat today published, for the first time, quarterly data on the debt/GDP ratio in the European Union. The quarterly data thus adds to the two annual surveys already published by the statistical office. At the end of third quarter of 2011 the ratio of public debt to GDP in the Eurozone decreased slightly, settling at 87,4% against 87,7% percent recorded at the end of the second quarter. The data for the third quarter of 2010 was 83,2%. Nonetheless the total debt of the countries of the monetary union, in absolute terms, has risen to 8.191,295 billion euros, 35 billion more than last quarter.
Instead, taking into consideration all member states of the European Union the debt/GDP ratio showed a slight increase, to 82,2% from 81,7%. At the end of the third quarter of 2010 it was 78,5%.
Looking at the countries in detail, in the quarter, the largest increases in debt were recorded in Hungary (+4,4%), Greece (+4,4%) and Portugal (+3,6%), while the greatest decreases concern Italy and Malta (-1,6%). However, the Italian ratio remains very high, standing at 119,6%, second only to that of Greece (159,1%). Close behind are Portugal (110,1%) and Ireland (104,9%). The countries in which the ratio of debt to GDP is lowest are Estonia (6,1%), Bulgaria (15%) and Luxembourg (18,5%).
