Bulgaria Boasts Second Lowest External Debt in EU
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.
Estonia leads the pack with the lowest public debt, comprising 18.2% of its GDP. Following closely, Bulgaria's impressive fiscal responsibility places it ahead of Luxembourg, Sweden, and Denmark, with their respective debt percentages.
EU COUNTRIES WITH THE LOWEST DEBT AS OF Q3 2023
- Estonia - 18.2% of GDP
- Bulgaria - 21% of GDP
- Luxembourg - 25.7% of GDP
- Sweden - 29.7% of GDP
- Denmark - 30.1% of GDP
The data indicates a positive trend for the EU as a whole, with the share of public debt decreasing to 82.6% by the end of September, compared to 83% during the same period the previous year.
On the flip side, among the nations with higher debt percentages, Greece claims the top spot with a staggering 165.5% debt-to-GDP ratio. Italy, France, Spain, and Belgium follow suit, highlighting the financial challenges faced by these countries.
EU COUNTRIES WITH THE HIGHEST DEBT AS OF Q3 2023
- Greece - 165.5% of GDP
- Italy - 140.6% of GDP
- France - 111.9% of GDP
- Spain - 109.8% of GDP
- Belgium - 108% of GDP
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