Data published by the European Union’s statistical service, Eurostat, reveals that the highest public debt-to-GDP ratios at the end of the third quarter of 2025 were recorded in Greece (149.7%), Italy (137.8%), France (117.7%), Belgium (107.1%), Spain (103.2%), and Portugal (97.6%).

Conversely, the lowest ratios were recorded in Estonia (22.9%), Luxembourg (27.9%), Bulgaria (28.4%), and Denmark (29.7%).

In the euro area as a whole, the ratio of public administration debt to GDP in the third quarter of 2025 was 88.5%, up from the same period in 2024 (87.7% of GDP) and the previous quarter of the same year (88.2%).

In the EU as a whole, public debt was 82.1% of GDP in the third quarter of 2025, an increase year-on-year (81.3% of GDP) and quarter-on-quarter (81.9% of GDP).