Greece is the Eurozone champion in reducing public debt

Champion at rate of reduction of public debt among the Eurozone countries is Greeceas it still is reduces its debt below his level 170% of GDPaccording to its latest aggregate data Eurostat.

Inside the first quarter of the year our Greece managed to improve the public debt to GDP ratio by 3 percentage pointswhile the cumulative reduction in debt from at the beginning of 2022 it now amounts to 21.2 units.

OR unique country among the 27 member states that even comes close to Greece’s performance it is Cyprus (-18 units), while thePortugal occupies a prominent position (-10.8 points).

The improvement in the picture for Greece is even more impressive if you consider that at the height of the pandemic, in 2020, the country’s debts exceeded 200% of GDP, as the state actively supported businesses and households to protect income, the jobs and production.

Eurostat estimates that at the end of March the Greek debt corresponded to 168.3% of economic activity, with the government aiming to reduce it below 140% at the end of four years.