According to data released Tuesday by Eurostat, Greece’s public debt rose in 2018 to 334.57 billion euros from 317.48 billion a year ago. At the same time, the debt to GDP ratio stood at 181.1% from 176.2% in 2017. The gloomy stats came despite the country posting a growth of 1.9% and 2-billion-euro surplus in the implementation of the budget.
The rise is mainly linked to the liquidity buoy created for the country to exit the ESM’s financial support program.
Greece’s public debt is the highest in Europe, with Italy following with 132.2% of its GDP.
According to Eurostat, the surplus of the Greek government last year amounted to 1,991 billion euros.
ELSTAT figures reported to the European Agency indicate that the primary surplus amounted to 4,4% of GDP or 8,149 billion euros (the target for the primary surplus based on the Greek program was 3,5%).