According to data released by Eurostat, the Greek public debt increased to 176% of the country’s GDP during the third quarter of 2014, from 171% in the same quarter of 2013. Public debt within the Eurozone stood, on average, at 92.1% of GDP in the third quarter of 2014, compared to 91.1% in the third quarter of 2013. Meanwhile, in the EU28, public debt reached 86.6% of GDP, while a year ago it stood at 85.3%. Regarding Greece, the country’s public debt reached 176% of GDP during the third quarter of 2014, amounting to a total of 315.5 billion euros, while during the second quarter, the debt stood at 177.5% (317.5 billion euros) and 171% (317.7 billion. euros) in the third quarter of 2013. Greece recorded the highest public debt rate in the EU in the third quarter of 2014, followed by Italy (131.8%), Portugal (131.4%) and Ireland (114.8%). The lower debt rate was recorded in Estonia (10.5%), Luxembourg (22.9%) and Bulgaria (23.6%). Compared to the third quarter of 2013, the public debt rate showed an increase in 18 EU member-states, while it dropped in 10. The largest increases were recorded in Slovenia (16.8 percentage points), Croatia (7.3 percentage points) and Bulgaria (6.6 percentage points). Furthermore, the greatest public debt reduction was recorded in Ireland (-9.4 percentage points), Poland (-8.0 percentage points) and Luxembourg (-5.0 percentage points).
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