The ratio of national debt to gross domestic product (GDP) of Greece was estimated at approximately 150.89 percent in 2024. Between 1980 and 2024, the ratio rose by around 128.05 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is expected to drop by about 25.82 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Graph and download economic data for Outstanding International Public Debt Securities to GDP for Greece (DDDM06GRA156NWDB) from 1991 to 2020 about Greece, public, debt, securities, and GDP.

Several European Union member states have struggled with high levels of public debt in the period since the Global Financial Crisis. In particular, Greece's debt skyrocketed during the recession which followed the crisis, culminating in a period of intense political and social upheaval during the early 2010s in which the country came close to having to leave the Euro single currency zone. Along with Italy, Portugal, Spain and France, Greece is part of a group of EU members who have seen their debt soar to a value worth over one year's aggregate production in their economies (i.e. 100% of GDP) due to slow economic growth coupled with increasing public liabilities due to the need to provide emergency support to their domestic financial systems. Belgium, while also a part of this group of high-debt ratio countries has quite different circumstances, as its debt ratio has in fact fallen since the 1990s, remaining 20 percent below its 1995 level, even after a spike due to the COVID-19 pandemic.

Greece Central Government Debt: Other Currencies data was reported at 7,759.550 EUR mn in Sep 2018. This records a decrease from the previous number of 8,187.360 EUR mn for Jun 2018. Greece Central Government Debt: Other Currencies data is updated quarterly, averaging 8,181.235 EUR mn from Jun 2005 (Median) to Sep 2018, with 54 observations. The data reached an all-time high of 15,084.070 EUR mn in Jun 2014 and a record low of 1,249.360 EUR mn in Sep 2009. Greece Central Government Debt: Other Currencies data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Greece – Table GR.F009: Central Government Debt.

Graph and download economic data for Outstanding Domestic Public Debt Securities to GDP for Greece (DDDM04GRA156NWDB) from 1996 to 2011 about Greece, public, debt, domestic, securities, and GDP.

External Debt in Greece increased to 582882 EUR Million in the second quarter of 2025 from 581039.80 EUR Million in the first quarter of 2025. This dataset provides the latest reported value for - Greece External Debt - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Greece Government Debt - Historical chart and current data through 2023.

Greece Central Government Debt: Annual data was reported at 328,703.840 EUR mn in 2017. This records an increase from the previous number of 326,358.140 EUR mn for 2016. Greece Central Government Debt: Annual data is updated yearly, averaging 239,364.000 EUR mn from Dec 1997 (Median) to 2017, with 21 observations. The data reached an all-time high of 367,978.000 EUR mn in 2011 and a record low of 114,570.800 EUR mn in 1997. Greece Central Government Debt: Annual data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Greece – Table GR.F009: Central Government Debt.

Greece Central Government Debt: ow Guaranteed data was reported at 10,557.100 EUR mn in Sep 2018. This records a decrease from the previous number of 10,600.040 EUR mn for Jun 2018. Greece Central Government Debt: ow Guaranteed data is updated quarterly, averaging 16,508.150 EUR mn from Dec 2001 (Median) to Sep 2018, with 68 observations. The data reached an all-time high of 25,667.900 EUR mn in Sep 2009 and a record low of 7,808.800 EUR mn in Mar 2002. Greece Central Government Debt: ow Guaranteed data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Greece – Table GR.F009: Central Government Debt.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In the third quarter of 2024, Greece's national debt was the highest in all the European Union, amounting to 158 percent of Greece's gross domestic product. In spite of Greece's total being high by EU standards, it marks a substantial decrease from the historical high point reached by the country's national debt of 207 percent of GDP in 2020. Italy, France, Spain, Belgium, and Portugal also all have government debt worth over one year's production of their economies, while the small Baltic country of Estonia has the smallest national debt when compared with GDP, at only 24 percent. In debitum incrementum?A country’s national debt, also known as government debt or public debt, is defined as all borrowings owed by the government of a country. It usually comprises internal debt – owed to other governmental departments – and external debt, which is held by the public and is owed to government bond owners. National debt can be caused by a struggling economy in general, or by low tax income, which usually leads to money being borrowed from other governments for support, which in turn cannot be paid back right away. At first glance, a high national debt is not always a sign of a struggling economy – but since increasing debt can slow down economic growth significantly, it is imperative for the respective government to seek a steady reduction in the long run.

The long-term interest rate on government debt is a key indicator of the economic health of a country. The rate reflects financial market actors' perceptions of the creditworthiness of the government and the health of the domestic economy, with a strong and robust economic outlook allowing governments to borrow for essential investments in their economies, thereby boosting long-term growth.

The Euro and converging interest rates in the early 2000s

In the case of many Eurozone countries, the early 2000s were a time where this virtuous cycle of economic growth reduced the interest rates they paid on government debt to less than 5 percent, a dramatic change from the pre-Euro era of the 1990s. With the outbreak of the Global Financial Crisis and the subsequent deep recession, however, the economies of Greece, Italy, Spain, Portugal, and Ireland were seen to be much weaker than previously assumed by lenders. Interest rates on their debt gradually began to rise during the crisis, before rapidly increasing beginning in 2010, as first Greece and then Ireland and Portugal lost the faith of financial markets.

The Eurozone crisis

This market adjustment was initially triggered due to revelations by the Greek government that the country's budget deficit was much larger than had been previously expected, with investors seeing the country as an unreliable debtor. The crisis, which became known as the Eurozone crisis, spread to Ireland and then Portugal, as lenders cut-off lending to highly indebted Eurozone members with weak fundamentals. During this period there was also intense speculation that due to unsustainable debt loads, some countries would have to leave the Euro currency area, further increasing the interest on their debt. Interest rates on their debt began to come back down after ECB Chief Mario Draghi signaled to markets that the central bank would intervene to keep the states within the currency area in his famous "whatever it takes" speech in Summer 2012.

The return of higher interest rates in the post-COVID era

Since this period of extremely high interest rates on government debt for these member states, the interest they are charged for borrowing has shrunk considerably, as the financial markets were flooded with "cheap money" due to the policy measures of central banks in the aftermath of the financial crisis, such as near-zero policy rates and quantitative easing. As interest rates have risen to combat inflation since 2022, so have the interest rates on government debt in the Eurozone also risen, however, these rises are modest compared to during the Eurozone crisis.

Greece Central Government Debt: Up to 1 Year data was reported at 46,220.900 EUR mn in Sep 2018. This records an increase from the previous number of 45,516.900 EUR mn for Jun 2018. Greece Central Government Debt: Up to 1 Year data is updated quarterly, averaging 37,651.121 EUR mn from Dec 2014 (Median) to Sep 2018, with 16 observations. The data reached an all-time high of 46,220.900 EUR mn in Sep 2018 and a record low of 31,769.900 EUR mn in Mar 2016. Greece Central Government Debt: Up to 1 Year data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Greece – Table GR.F009: Central Government Debt.

This scatter chart displays central government debt (% of GDP) against forest area (km²) in Greece. The data is about countries per year.

Graph and download economic data for General government gross debt for Greece (GGGDTAGRC188N) from 1980 to 2023 about Greece, debt, gross, and government.