ECONOMY FINANCE&BANKING

Romania – fourth in EU by Q1 decrease in debt to GDP ratio

At the end of Q1 2016, Romania’s government debt stood at 270.66 bln lei or 37.6 pct of GDP, down 0.8 percentage points from the 273.895 bln lei registered in Q1 2015 (or 83.4 pct of GDP), the European Statistical Office (Eurostat) announced in a press statement on Friday.

Compared with the fourth quarter of 2015, sixteen member states registered an increase in their debt to GDP ratio at the end of the first quarter of 2016, eleven a decrease, while Portugal remained stable. Romania is fourth by the decrease in the debt to the GDP ratio, after Lithuania (-2.7 percentage points), the United Kingdom (-1.2 pp) and Sweden (-1.0 pp).

At the end of the first quarter of 2016, the government debt to GDP ratio in the euro area (EA19) stood at 91.7 percent, compared with 90.7 percent at the end of the fourth quarter of 2015. In the EU28, the ratio decreased from 85.3 percent to 84.8 percent. Compared with the first quarter of 2015, the government debt to GDP ratio fell in both the euro area (from 93.0 percent to 91.7 percent) and the EU28 (from 88.1 percent to 84.8 percent).

The highest ratios of government debt to GDP at the end of the first quarter of 2016 were recorded in Greece (176.3 percent), Italy (135.4 percent) and Portugal (128.9 percent), and the lowest in Estonia (9.6 percent), Luxembourg (21.8 percent), Bulgaria (30.3 percent) and Romania (37.6 percent).

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