The government debt-to-GDP ratio dropped in the European Union in the third quarter of 2018, with Croatia among the countries with the largest decreases both on the month and on the year, showed the figures released by the EU statistical office Eurostat on Monday.

At the end of the third quarter of 2018, the government debt-to-GDP ratio in the euro zone stood at 86.1 percent, compared with 86.3 percent at the end of the second quarter of 2018, Eurostat said.

In the EU28, the ratio decreased from 81.0 percent to 80.8 percent. Compared with the third quarter of 2017, the government debt-to-GDP ratio fell in both the euro area, from 88.2 percent to 86.1 percent, and the EU28, from 82.5 percent to 80.8 percent.

In Croatia, government debt at the end of the third quarter of 2018 stood at 281.8 billion kuna (€38 billion), or 74.5 percent of GDP, down 1.6 percent from the previous quarter and 4 percent lower than at the same time in 2017.

The highest government debt-to-GDP ratios at the end of the third quarter of 2018 were recorded in Greece (182.2 percent), Italy (133.0 percent), and Portugal (125.0 percent), and the lowest in Estonia (8.0 percent), Luxembourg (21.7 percent), and Bulgaria (23.1 percent).

Compared with Q2 2018, six EU countries registered an increase in their debt-to GDP-ratio at the end of Q3 2018, nineteen reported a decrease, while the ratio remained stable in three member states.

The highest increases were recorded in Cyprus (+6.9 percent) and Greece (+4.8 percent).

The largest decreases were recorded in Malta (-3.1 percent), Slovenia, Croatia (both -1.6 percent), Hungary, and the Czech Republic (both -1.4 percent).

Compared with the Q3 2017, four EU countries registered an increase in their debt-to-GDP ratio at the end of Q3 2018, and twenty-four reported a decrease.

The largest increase in the ratio was reported in Cyprus (+9.7 percent), Greece (+7.4 percent), and the United Kingdom (+0.4 percent), while the largest decreases were recorded in Slovenia (-8.0 pp), Malta (-6.8 pp), and Portugal (-4.6 pp). Croatia recorded a decrease of 4.0 percent, the same as Ireland.

(€1 = 7.42 kuna)

Follow N1 via mobile apps for Android | iPhone/iPad | Windows| and social media on Twitter | Facebook