Gov’t debt, half the EU average in Q1 2014


Romania’s governmental debt was at the end of the first quarter of this year RON 247,921 million, or 39 percent of the GDP, half of the average 88 percent of the GDP reported within the European Union (EU-28) and the figure of 93.9 percent from the Euro Area, according to a report published on Tuesday by Eurostat. Romania used to have at the end of the first quarter one of the lowest governmental debt in the EU, with only Estonia, 10 percent, Bulgaria, 20.3 percent of the GDP, Luxembourg with 22.8 percent and Latvia with 38.2 percent boasting better figures.
On the other hand, the member states with the highest governmental debt were Greece (174.1 percent of the GDP), Italy (135.6 percent), and Portugal (132.9 percent). Compared to the same quarter of last year, 19 member states (Romania included) reported a higher ratio between the governmental debt and the GDP. In Romania, this debt increased from RNO 241.445 million (38.4 percent of the GDP) to RON 247.921 million (39 percent of the GDP). Within the EU, the governmental debt went up from 87.2 percent of the GDP to 88 percent. In the Euro Area, the governmental debt went up in the first quarter from 92.7 percent of the GDP to 93.9 percent of the GDP after two decreasing quarters in a row.