Greece's public debt in 2023 amounts to 163.9% of GDP (369 .09 billion EUR), reports the newspaper Naftemporiki with reference to new data of the European statistical agency Eurostat.
According to the publication, Eurostat increased its estimate of public debt in Greece over the past year by 2 percentage points from 161.9% of GDP, which was calculated based on data for April 2024. The statistics agency added to the calculation of debt deferred interest on loans from the European Stability Mechanism (ESM, created on the basis of the European Stabilization Fund EFSF), which Greece received as part of the second loan program of international creditors. In absolute numbers, Greece's public debt in 2023 increased to €369.09 billion with a GDP that was €225.1 billion.
The statistical correction of the level of public debt does not represent a real risk for investors in connection with the revision of the GDP size. A decisive factor is the upcoming early repayment of three more loan payments under the first credit program amounting to €7.94 billion, which almost completely eliminates the effect of the retroactive inclusion of EFSF interest in the debt-to-GDP ratio. Greece's public debt is expected to increase annually by approximately EUR 1.1-1.2 billion due to interest payments on loans taken until 2032.
It is estimated that in 2024 public debt will be approximately 153.7% of GDP. In absolute numbers, in the second quarter of 2024, Greece's debt is EUR 369.44 billion, the largest share of which is loans (this corresponds to 118.3% of GDP), bonds (42.2% of GDP ) and approximately 3.1% are related to currencies and deposits.
In August 2018, Greece successfully completed the third external macro-financial assistance program and exited the mechanism of strict external control by foreign creditors that it had been subject to since 2010. However, creditors continue to monitor the prudent fiscal the country's policy to avoid jeopardizing the reduction of public debt.