The Euro Area’s (EA-19) public debt level registered a slight drop in 2015, to 90.7 percent of GDP, from 92 percent of GDP in 2014, while in EU-28 the public debt level dropped from 86.8 to 85.2 percent, according to preliminary estimates published on Thursday by Eurostat.
At the end of 2015, the lowest public debt level as percentage of GDP was registered in Estonia (9.7 percent), Luxembourg (21.4 percent), Bulgaria (26.7 percent), Latvia (36.4 percent) and Romania (38.4 percent). In 2013 and 2014, Romania’s public debt level was 38 and 39.8 percent of GDP respectively. 17 EU member states had last year a public debt level higher than the 60 percent of GDP threshold demanded by the European Union, the highest levels being registered in Greece (176.9 percent), Italy (132.7 percent), Portugal (129 percent), Cyprus (108.9 percent) and Belgium (106 percent).
In 2015, government expenditures in the Euro Area stood at 48.6 percent of GDP, while government revenues stood at 46.6 percent of GDP. In EU-28, government expenditures stood at 47.4 percent of GDP last year, while revenues stood at 45 percent. In Romania, government expenditures stood at 35.5 percent of GDP, while revenues stood at 34.8 percent of GDP.