Economy · Greece
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21 July
Greece leads Europe in reducing public debt, with a significant decline noted by Eurostat.
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Generated by AI from the 5 sources below · always verify with the originals
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AI-synthesised from 5 sources · no editorial bias
According to data published by ELSTAT and reported by multiple sources, Greece's public debt decreased to €360.1 billion in the first quarter of 2026, down from €366.3 billion in the same period the previous year. This reduction represents a significant decline of 9.4 percentage points in terms of GDP, bringing the debt down to 143.5% of the country's Gross Domestic Product (GDP). This marks Greece as Europe’s leader in public debt reduction over the past year.
The decrease in public debt is attributed to broader economic measures and improved government finances, with government revenues amounting to €26.37 billion and total expenditures reaching €27.66 billion in the same period. The overall deficit of the general government stood at -2.2% of GDP. The country has experienced a dramatic reduction in public debt levels, nearly 70 percentage points lower compared to the peak levels recorded during the pandemic, indicating a notable trend in fiscal recovery and economic stability.
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