Greece’s public debt rose to 180.4 pct of GDP, or 322.568 billion euros, in the first quarter of 2018, rising by 11.907 billion euros from the first quarter of 2017, according to figures released by Eurostat on Friday.
At the end of the first quarter of 2018, the government debt to GDP ratio in the euro area (EA19) stood at 86.8 pct, compared with 86.7 pct at the end of the fourth quarter of 2017. In the EU28, the ratio decreased from 81.6 pct to 81.5 pct. Compared with the first quarter of 2017, the government debt to GDP ratio fell in both the euro area (from 89.2 pct to 86.8 pct) and the EU28 (from 83.6 pct to 81.5 pct).
Greece’s public debt ratio for the 1st quarter 2018 is the highest in the EU, followed by Italy (133.4 pct), Portugal (124.4 pct) and Belgium (106.3 pct). The lowest levels of public debt are in Estonia (8.7 pct), Luxembourg (22.2 pct) and Bulgaria (24.1 pct).
Greece was also the only country whose public debt ratio has risen over the same period (2.7 percentage points), while the greatest reduction in public debt was recorded in Cyprus (-11.3 percentage points), Ireland (-6.5 percentage points) and Croatia (-6.4 percentage points).
Public debt ratios increased in 12 member-states compared with the last quarter of 2017, with the biggest increase in Belgium (2.9 percentage points), followed by Greece (1.8 percentage points) and Italy (1.6 percentage points).