Home /THE EU CHAMPIONS OF GROSS PUBLIC DEBT

THE EU CHAMPIONS OF GROSS PUBLIC DEBT

Submitted by christian on Sat, 02/01/2014 - 13:23

In economics the debt to GDP ratio is the ratio between a country's government debt and its GDP. A low debt to GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debt without increasing further debt. EU rules requires public debt to be no more than 60% of the GDP or falling towards this ratio. Here below are the 'EU Champions' of Gross Public Debt. For each country, the table shows the Gross Public Debt as a percentage of GDP (based on EC Commission's forecast for 2014), the estimated amount of interest on the debt each year, and finally what the debt represents per citizen (total gross public debt divided by total population).

Countries mortgaging their future:

  1. Greece: Gross Public Debt= 175.9% of GDP, Interest per year, € 28 billion, Citizen share: € 31,000
  2. Italy: Gross Public Debt= 134 % of GDP, Interest per year= € 99 billion, Citizen share: € 35,000
  3. Portugal: Gross Public Debt= 126.7% of GDP, Interest per year= € 6 billion, Citizen share: € 18,000
  4. Cyprus: Gross Public Debt= 124.4% of GDP, Interest per year= € 20 billion, Citizen share: € 400,000
  5. Ireland: Gross Public Debt= 120.8% of GDP, Interest per year= € 8 billion, Citizen share: € 38,000
  6. Belgium: Gross Public Debt= 101.3% of GDP, Interest per year= € 11 billion, Citizen share: € 36,000
  7. Spain: Gross Public Debt= 99.9% of GDP, Interest per year= € 28 billion, Citizen share: € 13,000
  8. United Kingdom: Gross Public Debt= 96.9% of GDP, Citizen share: £ 21,000
  9. France: Gross Public Debt= 95.3% of GDP, Interest per year= € 56 billion, Citizen share: € 29,000

Countries that meet the 60% EU rule:

  • Bulgaria: Gross Public Debt= 22.6% of GDP
  • Czech Republic: Gross Public Debt= 50.6% of GDP
  • Denmark: Gross Public Debt= 43.7% of GDP
  • Estonia: Gross Public Debt= 9.7% of GDP
  • Latvia: Gross Public Debt= 39.3% of GDP
  • Lithuania: Gross Public Debt= 40.2% of GDP
  • Luxembourg: Gross Public Debt= 25.7% of GDP
  • Poland: Gross Public Debt= 51.0% of GDP
  • Romania: Gross Public Debt= 39.1% of GDP
  • Slovakia: Gross Public Debt= 57.2% of GDP
  • Sweden: Gross Public Debt= 41.9% of GDP

Other countries

  • Austria: Gross Public Debt= 74.5% of GDP
  • Finland: Gross Public Debt= 61.0% of GDP
  • Germany: Gross Public Debt= 77.1% of GDP
  • Hungary: Gross Public Debt= 79.9 % of GDP
  • Malta: Gross Public Debt= 73.3% of GDP
  • Netherlands: Gross Public Debt= 76.4% of GDP
  • Slovenia: Gross Public Debt= 70.1% of GDP

Add new comment