Romania, fourth in EU to lower government debt in Q1 of 2016

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Romania’s government debt stood at RON 270.66 billion or 37.6 percent of gross domestic product (GDP) at the end of the first quarter of this year, down by 0.8 percentage points from the level of RON 273.895 billion, or 38.4 percent of GDP in the same period of 2015, Eurostat, the statistical office of the European Union, informs on Friday.

Compared with the fourth quarter of last year, 16 EU Member States recorded an increase in government debt as a ratio of GDP in the first quarter of this year, while in 11 Member States (including Romania) the government debt fell. Higher decreases than Romania were recorded only in Lithuania (2.7 percentage points), UK (1.2 percentage points) and Sweden (1 percentage point).

The highest ratios of government debt to GDP at the end of the first quarter of 2016 were recorded in Greece (176.3 percent), Italy (135.4 percent) and Portugal (128.9 percent), and the lowest in Estonia (9.6 percent), Luxembourg (21.8 percent) and Bulgaria (30.3 percent).

At the end of the first quarter of 2016, the government debt to GDP ratio in the euro area (EA19) stood at 91.7 percent, compared with 90.7 percent at the end of the fourth quarter of 2015. In the EU28, the ratio decreased from 85.3 percent to 84.8 percent.

Compared with the first quarter of 2015, the government debt to GDP ratio fell in both the euro area (from 93.0 percent to 91.7 percent) and the EU28 (from 88.1 percent to 84.8 percent).

 

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