Romania's government debt was of 36.3 percent of its Gross Domestic Product in the first quarter of 2012, higher than the 30.8 percent in the same period of 2011, but well below the average ratio in the EU: 80.6 percent, according to recent data from the Eurostat.

Romania made it among the countries with the lowest debt to GDP ratios in the EU, with only Estonia, Bulgaria and Luxembourg having lower ratios: 6.6 percent, 16.7 percent and 20.9 percent respectively. Sweden's debt-to-GDP ratio was slightly higher than Romania's: 37.2 percent.

Greece ranked first, with a ratio of 132 percent, followed by Italy, with 123 percent and Portugal, 111 percent.

The eurozone countries performed worse on average, having increased the debt to GDP ratio from 87.3 percent end 2011, to 88.2 percent in the first quarter of this year.

In the EU27 the ratio increased from 82.5 percent to 83.4 percent, according to Eurostat.

Compared with the fourth quarter of 2011, 21 EU countries, including Romania, registered an increase in their debt to GDP ratio at the end of the first quarter of 2012, and only six a decrease.

Compared with the first quarter of 2011, 23 EU countries had an increase in their debt to GDP ratio at the end of the first quarter of 2012, and four a decrease.

The full report here.

editor@romania-insider.com

(photo source: Sxc.hu)