Greece has achieved the most significant public debt reduction among European Union member states, according to Eurostat data released in April 2025. The country’s debt-to-GDP ratio dropped by 10.3 percentage points between the fourth quarter of 2023 and the same period in 2024—the steepest drop in the EU bloc.
By the end of 2024, Greece’s public debt stood at 153.6% of GDP, continuing a downward trajectory that began in mid-2021, when pandemic-related expenditures were at their peak. Cyprus closely followed Greece with a debt-to-GDP reduction of 8.6 percentage points. In contrast, the EU’s average debt ratio increased by 0.2 percentage points during the same period, with only 11 out of 27 member states recording an…
