Belgium’s public debt reached 106.8% of its gross domestic product (GDP) in the first quarter of 2025, according to provisional figures released Tuesday by Eurostat.
Only Greece (152.5%), Italy (137.9%), and France (114.1%) have higher public debt levels.
The average public debt ratio for the eurozone is 88%, while for the European Union it stands at 81.8%.
Compared to the first quarter of 2024, 13 EU Member States saw an increase in their public debt-to-GDP ratio by the end of the first quarter of 2025.
Twelve Member States recorded decreases, and the ratio remained stable in Slovenia and Estonia, according to the European statistics office.
The largest increases were observed in Poland (+6.1 percentage points), Finland (+5.1 pp), Austria and Romania (+4.1 pp each), France (+3.6 pp), Italy (+2.9 pp), Slovakia (+2.6 pp), and Sweden (+2.0 pp).
The largest decreases were noted in Greece (-9.3 pp), Cyprus (-8.2 pp), Ireland (-6.1 pp), Croatia (-3.6 pp), Denmark (-3.2 pp), Spain (-2.8 pp), and Portugal (-2.7 pp).
In Belgium, the public debt-to-GDP ratio increased by 0.2 percentage points over the year.
