After hitting the psychological threshold of 100% of GDP in the first quarter of the year, the ratio between public debt and GDP of the Eurozone, in the April-June period, dropped to 98.3%. This was announced today. Eurostat. In the same period in Italy the debt went from 160% to 156.3% while in the EU as a whole it went from 92.4 to 90.9%. For both the Eurozone and the EU, Eurostat points out, the reduction in the debt-to-GDP ratio is attributable to the recovery of growth recorded in the second quarter as the debt, in absolute terms, continued to grow to offset the effects of the crisis. of Covid.
The deficit-to-GDP ratio in the 19 Eurozone countries fell from 7.1% in the first quarter of the year to 6.9% at the end of the April-June period: Eurostat announced this based on estimates adjusted for the factors seasonal.
Overall, the EU went from 6.6% to 6.3%.
The trend recorded, Eurostat observes, is mainly attributable to the resumption of growth in Gross Domestic Product.
In absolute terms, however, expenses and receipts increased, Eurostat again notes, following the effects of the initiatives taken to counter the crisis triggered by the pandemic.
