Romania ranks fourth on lowest public debt in EU on Q1

Newsroom 23/07/2012 | 15:17

Romania’s public debt rose to RON 211.3 billion (EUR 48.4 billion) in the first quarter (Q1) of 2012, which is 36.4 percent of GDP, while the EU 27 debt increased to 83.4 percent of GDP and the euro zone was up to 88.2 percent of GDP, shows data from the European statistics office Eurostat.

The highest ratios of government debt to GDP at the end of the first quarter of 2012 were registered in Greece and Italy with 132.4 percent and 123.3 percent of GDP, Portugal and Ireland with 111.7 percent and 108.5 percent. Meanwhile, the lowest ratios were registered in Estonia and Bulgaria with 6.6 percent and 16.7 percent of GDP, and in Luxembourg and Romania with 20.9 percent and 36.3 percent.

Romania’s public debt grew to RON 211.3 billion in Q1 2012, from RON 164 billion in Q4 2011 (30.8 percent of GDP) and RON 192.8 billion (33.3 percent of GDP) in Q4 2011.

The debt components are currency and deposits (0.7 percent of GDP), securities (22.3 percent) and loans (13.3 percent).

The public debt grew in 23 member states and fell in 4 in Q1 2012 versus Q1 2011. The public debt in the euro zone and EU 27 slightly increased to 88.2 percent of GDP from 86.2 percent of GDP, respectively 83.4 percent from 80.4 percent.

Ovidiu Posirca

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