Greek Debt Rises in Third Quarter of 2017, Says Eurostat



Greece’s public debt totaled 177.4 percent of GDP in the third quarter of 2017, up 1.3 percent compared with the second quarter of the year, but down 0.5 percent in comparison with the third quarter of 2016, Eurostat said on Wednesday.

In a new report, the EU executive’s statistics agency said loans accounted for 143.5 percent of the country’s total debt.

In absolute numbers, Greek debt rose to €313.5 billion ($386.8 billion) in the third quarter from €309.1 billion in the second quarter and €311.3 billion in the third quarter of 2016.

Greece recorded the highest public debt in the EU, followed by Italy (134.1 percent of GDP) and Portugal (130.8 percent), while Estonia (8.9 percent), Luxembourg (23.4 percent) and Bulgaria (25.6 percent) recorded the lowest debt ratios.

Last week, an EU Commission report showed that the projected trajectory of Greek debt is worse than originally calculated.

According to the commission’s baseline scenario, Greece’s debt-to-GDP ratio is expected to reach 181.1 percent in 2017, 165 percent in 2020, 127.2 percent in 2030 and 96.4 percent in 2060, forecasts that are slightly higher than what was projected at the end of the last review in June.