Greece is expected to no longer hold the title of the eurozone’s most indebted country by the end of the year, with public debt projected to fall below that of Italy.
According to senior Greek officials cited by Reuters, Greece’s debt-to-GDP ratio is forecast to decline to around 137 per cent this year, down from 145 per cent in 2025.
Italy, meanwhile, expects its debt to increase from 137.1 per cent of GDP in 2025 to 138.6 per cent in 2026, based on figures included in the country’s newly released multi-year budget plan.
“Greece will not be the most indebted country in the eurozone – from this year,” one of the Greek officials told Reuters.
The revised debt estimate is expected to feature in Greece’s upcoming fiscal plan, which will be submitted to the European Commission later this month.
Italy’s debt ratio is forecast to remain relatively stable in the coming years, easing slightly from 138.5 per cent in 2027 to 136.3 per cent by 2029.
Over the past five years, Greece has significantly reduced its public debt burden. Since 2020, the country’s debt ratio has fallen by more than 45 percentage points, compared with a reduction of around 17 percentage points in Italy over the same period.
Following a decade-long financial crisis and three international bailouts worth approximately €280 billion, Greece plans to repay around €7 billion in loans from its first bailout package ahead of schedule later this year.
Source: Ekathimerini
