Slovenia Leads in Terms of Government Debt Reduction Speed Among EU Countries

Slovenia is the leader in reducing the government debt among the EU countries both at the quarterly level (by 2.8%) and at the annual level (by 7.4%). In the first half of 2018, the government debt of Slovenia amounted to 72.8% of GDP. This was reported by Eurostat.

In addition to Slovenia, the reduction of government debt at the annual level was recorded in Germany, the Netherlands and Lithuania, at the quarterly level – in Lithuania, Ireland, Portugal and Malta as well. For just two quarters of this year, only three EU countries increased the government debt in average annual terms (Greece, Great Britain and Slovakia), while 25 countries reduced the debt. In the mid-quarterly measurement, the government debt was increased in 6 EU countries, while the debt reduction was demonstrated in 21 EU countries. Sweden has kept the debt at the same level. The government debt of Cyprus grew most significantly followed by Latvia, Great Britain and Slovakia.

In the first half of this year, the average government debt among the EU countries was 81% of GDP. The highest government debt in the reporting period was noted in Greece (179.7% of GDP), Italy (133.1% of GDP) and Portugal (124.9% of GDP), and the lowest – in Estonia (8.3%), Luxembourg (22% GDP) and Bulgaria (23.8% of GDP).