Romania’s government debt to GDP ratio goes down

Romania’s government debt amounted to EUR 60.6 billion or 37.6% of the country’s GDP, at the end of the first quarter, down 0.8 percentage points compared to the end of the previous quarter, according to EU’s statistical office Eurostat. Romania has the fourth-lowest government debt to GDP ratio in the EU, after Estonia, Luxembourg, and Bulgaria. Some 16 EU member states recorded an increase in the government debt as percentage of the GDP in the first three months of this year when compared to the last quarter of last year (Q4 2015). In 11 member states, including Romania, the debt went down. Lithuania, UK, and Sweden saw higher decreases than Romania In the European Union, the level of government debt dropped from 85.3% of the GDP in the last quarter of 2015 to 84.8% of the GDP in the first three months of this year. In the Eurozone, the debt rose to 91.7% of the GDP in the first quarter of this year from 90.7% in Q4 2015. Romania has the fifth lowest public debt in the EU editor@romania-insider.com