New statisticas from Eurostats show, that Latvia’s government debt to GDP ratio stood at 38.7% at the end of the second quarter of 2013 – the fifth lowest government debt across the European Union, according to the latest data from the EU’s statistical office Eurostat. The lowest ratio of government debt to GDP was registered in Estonia – 9.8%, informs LETA.Estonia was followed by Bulgaria – 18%, and Luxembourg – 23.1%. Lithuania’s government debt to GDP ratio amounted to 40.4%, the sixth lowest in the EU. The highest ratios of government debt to GDP were recorded in Greece – 169.1%, Italy – 133.3%, Portugal – 131.1%, and Ireland – 125.7%.
Compared to the first quarter of 2013, 19 member states registered increases in their debt to GDP ratio in the second quarter, six saw decreases, three did not record any changes. The steepest increases were registered in Cyprus – 10.8%, followed by Greece – 8.6%, and Slovenia – 7.9%.
The largest decreases were recorded in the Czech Republic – 1.4%, Hungary – 1.2%, Latvia and Germany – 0.7% each. Lithuania’s debt to GDP ratio reduced 0.3%, Estonia registered no changes.
Compared to the second quarter of 2012, 24 member states registered increases in their debt to GDP ratio in the second quarter of 2013, four saw decreases.
The largest increases were registered in Greece – 19.1%, Ireland – 15.5%, and Cyprus – 15.2%. The steepest reductions were recorded in Latvia – 3.9%, Germany – 2.1%, Austria and Denmark – 0.6% each.
According to Eurostat, Latvia’s national debt reached LVL 6.169 billion at the end of the second quarter of 2013.
Source: The baltic Course
http://www.baltic-course.com/eng/analytics/?doc=82516