Rise in Public Debt Unstopped

BusinessEconomy ♦ Published: July 23, 2012; 16:58 ♦ (Vindobona)

In the Euro area, government debt was up to 88.2% of GDP. Due to the European debt crisis, Austria´s public debt level will increase from 72.2% to 74.7% of the country´s GDP.

Rise in Public Debt Unstopped / Picture: © Vindobona.org

At the end of the first quarter of 2012, the government debt1 to GDP ratio2 in the euro area3 (EA17) stood at 88.2%, compared with 87.3% at the end of the fourth quarter of 2011. In the EU273 the ratio increased from 82.5% to 83.4%. Compared with the first quarter of 2011, the government debt to GDP ratio rose in both the euro area…