According to data released by Eurostat, compared with the first quarter of 2025, fifteen EU member states recorded an increase in their public debt-to-GDP ratio by the end of the second quarter of 2025, while twelve saw a decrease.
The sharpest rises were observed in Finland (+4.3 percentage points – pp), Latvia (+2.7 pp), Bulgaria (+2.6 pp), Portugal (+1.8 pp), France (+1.7 pp), and Romania (+1.4 pp).
Conversely, the largest declines were registered in Lithuania (-1.4 pp), Ireland (-1.2 pp), and both Greece and Luxembourg (-1.1 pp each).
Compared with the second quarter of 2024, sixteen member states recorded an increase in their public debt ratio by the end of Q2 2025, while eleven reported a decrease.
The most significant year-on-year increases were seen in Finland (+7.8 pp), Poland (+6.1 pp), Romania (+5.8 pp), Bulgaria (+4.3 pp), France (+3.5 pp), Slovakia (+2.7 pp), Italy (+2.3 pp), and Latvia (+2.0 pp).
Meanwhile, the largest reductions were noted in Greece (-8.9 pp), Ireland (-7.2 pp), Cyprus (-6.5 pp), Denmark (-3.5 pp), and Portugal (-2.3 pp).
At the end of the second quarter of 2025, the gross public debt-to-GDP ratio in the euro area (EA20) stood at 88.2%, up from 87.7% at the end of the previous quarter. In the European Union as a whole, the ratio also increased, rising from 81.5% to 81.9%.
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