Romania had among the lowest levels of government debt in the EU at the end of the third quarter in 2012. Government debt in Romania stood at around 35 percent of GDP, compared to an EU average of 85.1 percent and a eurozone average of 90 percent of GDP, according to the latest figures from EU statistics office Eurostat. Only three EU countries had lower levels of public debt at the end of Q3 2012 – Luxembourg (20.9 percent), Bulgaria (18.7 percent) and Estonia (9.6 percent).

Government debt in Romania fell by around 0.4 percent of GDP from the level in Q2 2012. The EU and eurozone average changes between the two quarters were very slight increases, with 15 states showing an increase in public debt levels, one staying the same and 11 showing falls from Q2 to Q3, 2012.

Comparing the third quarter of 2012 to Q3 2011, government debt in Romania had risen by around 2.5 percent of GDP. Only five countries showed falls in government debt year-on-year, both the EU and eurozone averages had risen and Romania's rise was among the smallest.

Liam Lever, liam@romania-insider.com