The best performance between the 27 Member States of the European Union (EU) in terms of reducing public debt Greece once again succeeded in late 2024, continuing to radically improve its position in an index that is considered a key for the long -term health of public finances.
According to the latest Eurostat figures, published Wednesday (23.4.2025), the ratio of debt to GDP in Greece improved by 10.3 points between the last quarter of last year and the corresponding period of 2023. At the same time, the debt in the EU increased by the EU, increased by 0.2 points. Debt-EF.
The only country that at least approached Greece’s performance was Cypruswhich achieved a reduction in ratio by 8.6 points. Croatia followed, with 4.3 points.
In contrast, a noticeable deterioration was recorded in large economies, such as France (+3.2 points) and Poland (+5.7 points). Both Paris and Warsaw have been put into excessive deficit by the European Commission, due to large deficits in their budgets that supply public debt. The “primacy” was occupied by Romania, which is also in the process of excessive deficit, which saw its debt to GDP rising by 5.9 points over twelve months.
Greece’s public debt as a percentage of GDP was formed at the end of 2024 at 153.6%continuing its continuous declining since mid -2021, that is, the most difficult period of the pandemic, when the state was forced to incur emergency costs to support the economy and society.
It is noted that, according to ELSTAT data, in absolute numbers, public debt in 2024 was virtually unchanged compared to the peak of the pandemic in 2021, that is, around € 364 billion. This means that Greece has succeeded in improving the proportion of GDP on the one hand through systematic fiscal discipline and on the other hand succeeding Particularly high growth rates, at a time when major European economies face serious fiscal challenges.
The above combination raised a record of the primary surplus, 4.8% of GDP, for 2024, which allowed the government to announce the permanent return of a rent each year for those who rent both the main and a student residence, the permanent granting of 250 euros and a yearly reinforcement, Public Investment (RIP) by EUR 500 million.
The government is committed to limiting public debt to 140% of GDP in 2027 and 120% in 2030.