ACCORDING to a Eurostat news release, the Cyprus debt to Gross Domestic Product (GDP) ratio reached 67.5% in the third quarter of 2011, compared with 59.9% in the same quarter of 2010; an increase of 7.6%.
Greece’s government debt reached 159.1% of GDP, having increased by 20.3%. Portugal’s government debt went up by 18.9% and reached 110.1% of GDP, while Ireland’s debt reached 104.9%.
The United Kingdom’s government debt was reported to have reached 85.2% of GDP in Q3 2011; an increase of 6.9% compared with the same quarter of 2010.
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Eurostat figures show that the highest ratios of government debt to GDP at the end of the third quarter of 2011 were recorded in Greece (159.1%), Italy (119.6%), Portugal (110.1%) and Ireland (104.9%).
The lowest were recorded in Estonia (6.1%), Bulgaria (15.0%) and Luxembourg (18.5%).
Furthermore, the highest increases in the ratio were recorded in Hungary (+4.8 percentage points – pp), Greece (+4.4 pp) and Portugal (+3.6 pp).
The largest decreases in the ratio were recorded in Italy and Malta (both -1.6 pp) and Romania (-1.0 pp).
On the other hand, compared with the third quarter of 2010, the highest increases in the ratio were recorded in Greece (+20.3 pp), Portugal (+18.9 pp) and Ireland (+16.5 pp), while largest decreases were recorded in Sweden (-1.6 pp), Luxembourg (-1.4 pp) and Bulgaria (-0.9 pp).
Further reading
Eurostat newsrelease euroindicators 20/2012 – 6 February 2012