LCU:Eurozone Govt Debt Narrows For First Time In Six Years
VIENNA (Alliance News) - The gross debt of Eurozone governments narrowed in the third quarter, marking the first decline in nearly six years, in a further sign that the region's long-drawn debt crisis is easing, data released by Eurostat revealed Wednesday.
Total government debt in the 17-country bloc dropped to 92.7% of gross domestic product (GDP) at the end of the September quarter from 93.4% in the second quarter. It was the first decline since the fourth quarter of 2007.
Loans amounted to 17.9% of GDP during the quarter, compared to 18.1% in the preceding three-month period.
The ratio of securities and deposits edged up to 79.3% from 79.2%, while the value of currency and deposits remained unchanged at 2.7% of GDP.
In the EU (EU), the debt-to-GDP ratio increased modestly to 86.8% in the September quarter from 86.7% in the second quarter.
Among the EU member states, the highest debt-to-GDP ratios were recorded in Greece, Italy, Portugal and Ireland. The lowest rates were recorded in Estonia, Bulgaria and Luxembourg.
