Portugal has the 3rd highest public debt in Europe

In the third quarter of 2021, Portugal recorded a public debt ratio of 130.5 % of gross domestic product (GDP). As a result, Portugal ranks as the third country with the highest debt in the European Union. 

Portugal has the 3rd highest public debt in Europe

The information was published on Friday by Eurostatthe EU's statistical office. It reported that at the end of the third quarter of 2021, the public debt-to-GDP ratio in the eurozone was 97.7 %, compared with 98.3 % at the end of the second quarter of 2021. In the EU as a whole, the ratio also fell, from 90.9% to 90.1% over this period.

In the third quarter of last year, Portugal held on to third place in the ranking. public debt the highest in the EU, at 130.5 % of GDP, just behind Greece (200.7 %) and Italy (155.3 %).

Spain (121.8 %), France (116.0 %), Belgium (111.4 %) and Cyprus (109.6 %) are also on the list of Member States with the highest public debt-to-GDP ratios at the end of the third quarter of 2021. Conversely, the lowest ratios were recorded in Estonia (19.6%), Bulgaria (24.2%) and Luxembourg (25.3%).

Eurostat contextualise, indiquant que tant que dans la zone euro, la diminution du ratio de la dette publique par rapport au PIB à la fin du troisième trimestre est due à une augmentation du PIB, tandis que la dette a continué à augmenter en raison des besoins de financement des mesures politiques adoptées pour atténuer l’impact économique et social de la pandémie. »

Compared with the third quarter of 2020, the ratio of public debt to GDP increased in both the eurozone (from 96.6% to 97.7%) and the EU (from 89.2% to 90.1%).

Also in a yearly comparison, 15 member states recorded an increase in their debt-to-GDP ratio at the end of the third quarter of 2021 and 12 member states a decrease.