Romania, the fourth biggest drop in Government debt in Q1 in the EU

Newsroom 22/07/2016 | 16:26

The Romanian Government debt amounted to RON 270.6 billion or 37.6 percent from the GDP at the end of Q1, a drop of 0.8 percentage points compared with RON 273.9 billion or 38.4 percent from GDP in the last three months of 2015, according to a report published by Eurostat.

Compared with the Q4 2015, 16 EU member states registered a growth in government debt reported to GDP in Q1 2016, while in 11 member states (including Romania) the Government debt dropped. Aside from Romania, the biggest decreases were registered in Lithuania (2.7 percentage points), UK (1.2 percentage points) and Sweden (one percentage point).

In EU the level of Government debt dropped to 85.3 percent from GDP in Q4 in 2015 to 84.8 percent from GDP in Q1 2016. In the Euro zone, the Government debt grew to 91.7 percent from GDP during January-March 2016 from 90.7 percent from GDP in Q4 2015.

According to Eurostat, at the end of Q1 2016, the EU member states with the highest Government debt reported to GDP were: Greece (176.3 percent), Italy (135.4 percent) and Portugal (128.9 percent). On the other side, the states with the lowest Government debt were Luxembourg (21.8 percent), Bulgaria (30.3 percent) and Romania.

Georgiana Bendre