Debt-to-GDP ratio

Below 120% of GDP debt by 2027 - Praises to government for progress

The sustainability of Greece's public debt is guaranteed at least until 2030, according to the Bank of Greece (BoG).

The evolution of public debt and gross financing needs in various adverse scenarios shows limited deviations from the basic scenario of the Bank of Greece until the beginning of 2030, as stated in its annual report.

Greece's economic outlook has improved notably, but significant challenges remain, the IMF said in a report released on Wednesday.

Bulgaria has secured the second spot in the European Union for maintaining the lowest external debt relative to GDP, based on Eurostat data from the end of the third quarter of the previous year. The country's public debt stands at 21%, making it one of the most fiscally disciplined nations in the EU.

BELGRADE - Serbia's public debt amounted to 35.62 bln euros at the end of November 2023, the Ministry of Finance said.

The debt was down by around 90 mln euros from 35.71 bln euros at the end of October.

The debt-to-GDP ratio was down, too, declining to 51.5 pct from 51.6 pct at end-October.

The European Commission has reiterated warnings concerning the significant challenges posed to the Cypriot economy from private debt, as it has done before in regular post-program or post-memorandum reports.

The already very important performance recorded by Greece internationally in terms of debt-to-GDP ratio reduction will continue over the next seven years, as Moody's estimates, thanks to the strong growth of the Greek economy, the very favorable public debt profile, as well as the very good management strategy.

BELGRADE - Serbia's debt-to-GDP ratio is 50.5 pct and the country has not crossed the red line of overindebtedness, says Serbian Deputy PM and Finance Minister Sinisa Mali.

In response to criticism from opposition leader Dragan Djilas, Mali said that, by comparison, the Eurozone debt-to-GDP ratio was 91.2 pct according to the latest Eurostat figures.

The National Economy and Finance Ministry is preparing the draft budget for 2024 based on a number of pillars, with the aim of submitting it to Parliament in the first week of October. Its target will be an increase in state revenue.

Last year closed with the general government debt at 338 billion euros and cash reserves at €31 billion. The Finance Ministry is now waiting for the final figures on the 2020 gross domestic product and the extent of the recession to establish how far above the 200% level the ratio of debt to GDP will rise.