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.
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.
This statistic shows the unemployment rate in Greece from 1999 to 2023. In 2023, the unemployment rate in Greece was around 11.07 percent. Today, Greece reports the highest unemployment rate of all EU states. Greece's financial situation Greece is a developed country with a high-income economy, whose primary industry revolves around tourism and shipping. Agriculture also plays an important role for the country’s economy, more specifically for the EU. Greece had experienced large amounts of economic growth from the 1950s to the 1970s, however was economically devastated by the Great Recession in 2009 as well its own government debt crisis. Since the early 2000s, small increases in national debt were present within the Greek economy. These small increases turned into rather substantial surges between 2008 and 2011, which resulted in a large amount of accumulated public debt. However, financial assistance from several countries around the world as well as stimulus packages from the EU were issued to Greece, with the hopes of structural adjustments in the government and better decision making within the country in order to decrease national debt and increase productivity. The financial assistance helped stabilize Greece’s debt over the past several years, however many countries are arguing just how useful this support is, mostly because Greece has not made significant strides to improve its economy. As a result, consumers have become less optimistic about the possibility of a short term economic recovery in Greece. Additionally, investors have remained hesitant on investing into the country, generally due to an increasing debt-to-GDP ratio, which is ranked atop all countries in the European Union. The so-called debt-to-GDP ratio is an important indicator of a country’s ability to pay back its debts without incurring further debt.
This statistic shows the unemployment rate in Greece from 1999 to 2024. In 2024, the unemployment rate in Greece was around 10.13 percent. Today, Greece reports the highest unemployment rate of all EU states. Greece's financial situation Greece is a developed country with a high-income economy, whose primary industry revolves around tourism and shipping. Agriculture also plays an important role for the country’s economy, more specifically for the EU. Greece had experienced large amounts of economic growth from the 1950s to the 1970s, however was economically devastated by the Great Recession in 2009 as well its own government debt crisis. Since the early 2000s, small increases in national debt were present within the Greek economy. These small increases turned into rather substantial surges between 2008 and 2011, which resulted in a large amount of accumulated public debt. However, financial assistance from several countries around the world as well as stimulus packages from the EU were issued to Greece, with the hopes of structural adjustments in the government and better decision making within the country in order to decrease national debt and increase productivity. The financial assistance helped stabilize Greece’s debt over the past several years, however many countries are arguing just how useful this support is, mostly because Greece has not made significant strides to improve its economy. As a result, consumers have become less optimistic about the possibility of a short term economic recovery in Greece. Additionally, investors have remained hesitant on investing into the country, generally due to an increasing debt-to-GDP ratio, which is ranked atop all countries in the European Union. The so-called debt-to-GDP ratio is an important indicator of a country’s ability to pay back its debts without incurring further debt.
The statistic shows the national debt of the United States from 2019 to 2022 in relation to the gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of the United States was at around 120.03 percent of the gross domestic product. See the US GDP for further information. US finances There has been a dramatic increase in the public debt of the United States since 1990, although the month-to-month change has been quite stable over the last few months. Public debt is defined as the amount of money borrowed by a country to cover budget deficits. A ranking of individual state debt in the United States shows that California is leading by a clear margin, with more than double the amount of runner-up New York. Vermont, North Dakota and South Dakota are the states with the lowest amount of debt. Even before the recession of 2008, the national debt of the United States had been increasing steadily and excessively, and it is predicted to rise even further. Budget cuts and fewer job opportunities as a result of the crisis are taking their toll on the American economy, which is still recovering. Trade figures as well as unemployment are still below average. Subsequently, the national debt and the national debt of the United States per capita have more or less quadrupled since the 1990s. Interestingly, the United States is not even among the top ten of countries with the highest public debt in relation to gross domestic product in international comparison. Japan, Greece and Italy – among others – report far higher figures than the United States.
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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.