Public debt in the EU and the eurozone, expressed as a share of GDP, decreased at the end of the second quarter thanks to the economic recovery from the coronavirus crisis, and Croatia maintained its position among the countries with the largest decline, a report from Eurostat revealed on Friday.
At the EU level, public debt amounted to 86.4% of GDP at the end of June, calculated Eurostat. At the end of March, it was 87.5%.
In the eurozone, it decreased from 95.2% to 94.2%.
At the end of last June, it was 90.5% in the EU, while in the eurozone it was almost equal to GDP.
The lower debt-to-GDP ratio is a result of the economic recovery from the crisis caused by the COVID-19 pandemic, as the debt in absolute terms increased in both areas, notes the European statistical office.
Croatia Alongside Slovenia
The highest public debt expressed as a share of GDP at the end of June was recorded by Greece, nearly double that of GDP.
Italy again found itself in second place with a debt 50% larger than GDP. Following are Portugal, where it was approximately a quarter larger than GDP, and Spain, where it exceeded it by 16%.
In Croatia, the consolidated general government debt amounted to 343.72 billion kuna at the end of June, which corresponded to 74.3% of GDP. At the end of March, it was 342.7 billion kuna, or 77.3% of GDP.
At the end of last June, it amounted to 341.5 billion kuna, which corresponded to 86.3% of GDP.
The closest to Croatia in terms of public debt as a share of GDP in the middle of this year was Slovenia, where it amounted to 73.5%.
The lowest level of public debt expressed as a share of GDP was recorded in Estonia in the middle of this year, at 16.7%. Following are Bulgaria and Luxembourg with 21.3% and 25.4%, respectively.
