Eurozone Gov't Debt/GDP Ratio Falls To 86.1% In Q3

The general government debt to GDP ratio of eurozone was 86.1% at the end of the third quarter of 2019, according to Eurostat on Tuesday.

The figure was up from 86.4% at the end of the second quarter of last year and 87.1% in the same quarter of 2018.

Greece continued to post the highest general government debt to GDP ratio with 178.2%, a debt of €334.3 billion ($371.2 billion).

It was followed by Italy with 137.3%, Portugal (120.5% ), Belgium (102.3%) and France with 100.5%.

The lowest ratios were seen in Estonia (9.2%), Luxembourg (20.2%) and Bulgaria with 20.6%.

On a quarterly basis, four member countries posted an increase in their debt to GDP ratio in the third quarter of 2019, while 23 posted a decrease.

Eurostat said the ratio remained stable in Germany compared to previous quarter.

On Tuesday, Eurostat also announced the seasonally adjusted general government deficit to GDP ratio which stood at 0.7% in Eurozone in the third quarter.

In the third quarter of 2019, total government revenue in the euro area amounted to 46.5% of GDP, an increase compared with 46.4% of GDP in the second quarter of 2019, it said.

Total government expenditure in the euro area was 47.2% of GDP during the same period.

The eurozone/euro area or EA19 represents member states that use the single currency -- euro -- while the EU28 includes all member countries of the bloc. -