Romania's government debt stood at EUR 56.17 billion, or 38.1% of the GDP, at the end of the third quarter of 2014. This is almost half of the average recorded in the European Union (86.6%) or the euro area (92.1%), according to the European Union's statistical office Eurostat.

Romania recorded during July and September 2014 one of the lowest government debts in the EU, being surpassed only by Estonia (10.5% of GDP), Luxembourg (22.9%) and Bulgaria (23.6).

Greece (176.0%), Italy (131.8%) and Portugal (131.4%)  recorded the highest ratios of government debt to GDP at the end of the third quarter of 2014.

A total of 18 member states, including Romania, posted a quarter-on-quarter decrease in their debt to GDP ratio at the end of the third quarter of 2014.

editor@romania-insider.com