Eurostat: Greece has the Highest Debt in the EU



eurozone-EU EurostatGreece has the highest debt in the Eurozone, with 156% of GDP for 2012, while its deficit was the second highest both in Eurozone and the EU, at 9%.

More specifically, according to the data published by the Statistical Office of the European Communities (Eurostat), Greece’s debt in the end of 2012 reached 156.9% of the GDP, followed by Italy with a debt at 127% of GDP, Portugal with 124.1% and Ireland with 117.4%.

In parallel, Greece’s deficit stood at 9%, revised from the previous rate of 10%, which had been announced by Eurostat, but also lower than the deficit of 2011, which was 9.5%. Spain shows the worst performance with a 10.6% deficit, while Ireland ranks third with 8.2%, followed by Portugal and Cyprus with 6.4% each.

At the same time, the deficit in the Eurozone dropped by 4.2% in 2011 to 3.7% in 2012 and in the EU from 4.4% to 3.9%, while Eurozone’s debt increased from 87.3% of the GDP in the end of 2011 to 90.6% and in the EU from 82.3% to 85.1%.

In total, 15 states reduced their deficit in 2012, in comparison to the previous year, 12 states increased it, while in one member-state the deficit remained unchanged.


2 COMMENTS

  1. “Greece has the Highest Debt in the EU”. Well I do not think any of us knew that, did we? And this is supposed to be news. Please tell us something we didn’t know.

  2. Eurostat should say tha Greece has the Highest Debt in the EU and the world that will never be repaid…

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