France, Italy among EU’s most indebted nations as public debt rises

The eurozone’s gross government debt-to-GDP ratio rose to 88.9% at the end of the first quarter of 2026, compared with 87.7% at the end of the previous quarter, according to data from Eurostat.

In the European Union as a whole, the ratio increased from 81.8% to 82.9% over the same period.

The highest debt levels were recorded in Greece, where public debt reached 143.5% of GDP, followed by Italy at 138.9% and France at 117.6%. Belgium’s debt stood at 109.1%, while Spain’s reached 101.6%.

The lowest government debt-to-GDP ratios in the EU were reported in Estonia (25.2%), Denmark (26.8%), Bulgaria (28.5%) and Luxembourg (29.2%), Eurostat said.