Portugal has third largest sovereign debt as percentage of GDP amongst European Union countries

8 February 2012

Luxembourg, 8 Feb – Portuguese sovereign debt totalled 110.1 percent of its Gross Domestic Product (GDP) at the end of the third quarter of 2011, and thus has the third highest debt in the European Union, according to Eurostat figures published Monday.

The European Union’s statistics office also said that ahead of Portugal were Greece (159.1 percent) and Italy (119.6 percent), and the Netherlands in fourth (104.9 percent).

The figure of 110.1 percent for the end of the third quarter is in excess of the amount outlined in Portugal’s State Budget for 2012 for the total in 2011 – 101.9 percent of GDP – and is very close to the figure expected for the whole of 2012 (110.5 percent).

Eurostat, which issued its first quarterly figures for debt, noted that average sovereign debt amongst the 17 Euro Zone countries was 82.2 percent and 82.2 percent for the 27 member states. (macauhub)