ACCORDING to a Eurostat news release, the Cyprus debt to Gross Domestic Product (GDP) ratio reached 67.5% in the third quarter of 2011, compared with 59.9% in the same quarter of 2010; an increase of 7.6%.
Greece’s government debt reached 159.1% of GDP, having increased by 20.3%. Portugal’s government debt went up by 18.9% and reached 110.1% of GDP, while Ireland’s debt reached 104.9%.
The United Kingdom’s government debt was reported to have reached 85.2% of GDP in Q3 2011; an increase of 6.9% compared with the same quarter of 2010.
Eurostat figures show that the highest ratios of government debt to GDP at the end of the third quarter of 2011 were recorded in Greece (159.1%), Italy (119.6%), Portugal (110.1%) and Ireland (104.9%).
The lowest were recorded in Estonia (6.1%), Bulgaria (15.0%) and Luxembourg (18.5%).
Furthermore, the highest increases in the ratio were recorded in Hungary (+4.8 percentage points – pp), Greece (+4.4 pp) and Portugal (+3.6 pp).
The largest decreases in the ratio were recorded in Italy and Malta (both -1.6 pp) and Romania (-1.0 pp).
On the other hand, compared with the third quarter of 2010, the highest increases in the ratio were recorded in Greece (+20.3 pp), Portugal (+18.9 pp) and Ireland (+16.5 pp), while largest decreases were recorded in Sweden (-1.6 pp), Luxembourg (-1.4 pp) and Bulgaria (-0.9 pp).
Eurostat newsrelease euroindicators 20/2012 – 6 February 2012