At the end of the second quarter of 2024, the general government gross debt to GDP ratio in the euro area (EA20) stood at 88.1%, compared with 87.8% at the end of the first quarter of 2024. In the EU, the ratio also increased from 81.3% to 81.5%.
Compared with the second quarter of 2023, the government debt to GDP ratio decreased in both the euro area (from 88.8% to 88.1%) and the EU (from 81.9% to 81.5%).
At the end of the second quarter of 2024, the general government debt was made up of 84.0% debt securities in the euro area and 83.6% in the EU, 13.4% loans in the euro area and 13.9% in the EU and 2.5% currency and deposits both in the euro area and in the EU.
Due to the involvement of EU Member States’ governments in lending to certain Member States, quarterly data on intergovernmental lending (IGL) are also published. The IGL as percentage of GDP at the end of the second quarter of 2024 stood at 1.5% in the euro area and at 1.3% in the EU.
The highest ratios of government debt to GDP at the end of the second quarter of 2024 were recorded in Greece (163.6%), Italy (137.0%), France (112.2%), Belgium (108.0%), Spain (105.3%), and Portugal (100.6%), and the lowest were recorded in Bulgaria (22.1%), Estonia (23.8%) and Luxembourg (26.8%).
Compared with the first quarter of 2024, nine Member States registered an increase in their debt to GDP ratio at the end of the second quarter of 2024, seventeen a decrease, and the ratio remained stable in Denmark. The largest increases in the ratio were observed in Finland (+2.0 percentage points – pp), Austria and Italy (both +1.8 pp), France (+1.6 pp), Portugal (+1.2 pp), Poland (+0.9 pp) and Sweden (+0.6 pp). The largest decreases were recorded in Cyprus (-2.1 pp), Croatia (-2.0 pp), Greece (-1.8 pp), Lithuania (-1.7 pp), Spain (-0.9 pp), Czechia (-0.8 pp), the Netherlands and Germany (-0.7 pp), and Romania (-0.6 pp).
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Publish date : 2024-10-22 05:03:00
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