(MENAFN) The ratio of government debt to gross domestic product (GDP) in the Eurozone decreased to 89.9 percent in the third quarter of 2023, based on official numbers released on Monday by Eurostat.
Eurostat, the statistical department of the 27-member bloc, reported that by the end of the third quarter of 2023, the ratio of general government gross debt to GDP had declined from 90.3 percent on a quarterly basis.
The reduction in this ratio was observed not only in the Eurozone but also on the broader EU side, where the figure decreased from 83 percent to 82.6 percent over the same period.
When analyzed on a yearly basis, both the Eurozone and the EU witnessed a decline in the government debt to GDP ratio, from 92.2 percent to 89.9 percent in the Eurozone and from 84.6 percent to 82.6 percent in the EU.
In a separate release, Eurostat disclosed that in the third quarter of 2023, the seasonally adjusted general government deficit to GDP ratio was 2.8 percent in both the Eurozone and the EU.
"The Eurozone and EU deficit to GDP ratios decreased slightly compared to the second quarter of 2023," it continued.
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