Bulgaria Had EU's 2nd Lowest Debt-to-GDP in 2011

Business » FINANCE | April 23, 2012, Monday // 12:54| Views: | Comments: 0
Bulgaria: Bulgaria Had EU's 2nd Lowest Debt-to-GDP in 2011

Bulgaria had EU's second lowest debt-to-GDP ratio among the EU 27 in 2011 – 16.3%, according to data released by Eurostat.

The lowest ratio of government debt to GDP was recorded in Estonia (6.0%). Bulgaria is followed by uxembourg (18.2%), Romania (33.3%), Sweden (38.4%), Lithuania (38.5%), the Czech Republic (41.2%), Latvia (42.6%), Slovakia (43.3%) and Denmark (46.5%).

Fourteen Member States had government debt ratios higher than 60% of GDP in 2011: Greece (165.3%), Italy (120.1%), Ireland (108.2%), Portugal (107.8%), Belgium (98.0%), France (85.8%), the United Kingdom (85.7%), Germany (81.2%), Hungary (80.6%), Austria (72.2%), Malta (72.0%), Cyprus (71.6%), Spain (68.5%) and the Netherlands (65.2%).

In 2011 the largest government deficits in percentage of GDP were recorded in Ireland (-13.1%), Greece (-9.1%), Spain (-8.5%), the United Kingdom (-8.3%), Slovenia (-6.4%), Cyprus (-6.3%), Lithuania (-5.5%), France and Romania (both -5.2%) and Poland (-5.1%). The lowest deficits were recorded in Finland (-0.5%), Luxembourg (-0.6%) and Germany (-1.0%). Hungary (+4.3%), Estonia (+1.0%) and Sweden (+0.3%) registered a government surplus in 2011.

The European Union's statistics institute Monday confirmed the 2011 budget-deficit estimates of most European countries, with the exception of Ireland, which Eurostat forecasts as being much higher.

Eurostat sees Ireland's budget deficit at 13.1% of gross domestic product, compared with Dublin's projection of 9.8%.

Eurostat estimated that overall the government deficits in the 27 EU countries and also in the 17 euro-zone countries shrank compared with 2010, but debt-to-GDP levels increased.

Finance » Be a reporter: Write and send your article
Tags: debt, debt-to-GDP ratio, debt-to-GDP, deficit, EU
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria