Government debt down to 90.3% of GDP in euro area

At the end of the second quarter of 2023, the general government gross debt to GDP ratio in the euro area (EA20) stood at 90.3%, compared with 90.7% at the end of the first quarter of 2023. In the EU, the ratio also decreased from 83.4% to 83.1%. For both the euro area and the EU, the decrease in government debt to GDP ratio is due to the fact that, an increase in GDP in absolute terms outweighed the increase in government debt. Compared with the second quarter of 2022, the government debt to GDP ratio also decreased in both the euro area (from 93.5% to 90.3%) and the EU (from 85.9% to 83.1%).