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Bulgaria First in EU in Reducing Its Government Debt to GDP Ratio
Bulgaria is first among the 27 member states in reducing its government debt to GDP ratio for the ten years between 1999 and 2009.
From 77.6% of the GDP in 1999 Bulgaria’s government debt plunged to 14.7% of the GDP in 2009, which is a reduction of 62.9%, or of over 81%. In 2010 the European Union expect Bulgaria’s government debt to be 18.2% of the GDP, which puts the country in second place together with Luxemburg after Estonia (which has 8% government debt to GDP ratio).
Bulgaria managed to reduce its government debt to GDP ratio three times more compared to the second state in the ranking – Sweden, whose government debt-GDP ratio dropped by 22.5 percent to 41.9% in 2009.
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