This is the third most significant drop in the EU, recorded in the period between October and December last year. For both the Eurozone and the EU, underlines the statistics office, the reduction in the debt-to-GDP ratio is due to an increase in GDP, in absolute terms, higher than that of the public debt
In Italy the debt-to-GDP ratio in the period between October and December 2022 fell from 145.9% to 144% compared to the previous quarter, recording the third most significant drop in the EU. This was announced by Eurostat. In the same period, the public debt-to-GDP ratio of the Eurozone fell to 91.6%, compared to 93% in the previous quarter. In the EU as a whole it also decreased from 85.1% to 84%.
Data in the Eurozone
For both the Eurozone and the EU, underlines the statistics office, the reduction in the debt-GDP ratio is due to an increase in GDP, in absolute terms, greater than that of the public debt. Also in 2022 in Italy the deficit-GDP ratio stood at 8%, recording the highest annual level in the EU. The deficit-GDP ratio decreased for the Eurozone and for the EU-27 in 2022, going from 5.3% to 3.6% and from 4.8% to 3.4% respectively. The highest levels of deficit in relation to GDP, after Italy, were observed in Hungary and Romania (6.2%) and in Malta (5.8%). The debt-to-GDP ratio in 2022 instead increased in the Eurozone from 95.5% to 91.6%, and in the EU from 88% to 84%. Italian debt, at 144.4%, remains the second highest in Europe, after Greece (171.3%).