Latvia Economic and Defence Update
GENERAL GOVERNMENT DEBT REMAINS LOW
Despite additional funding needs during Covid-19 pandemic and current support measures during the energy price peak
period, the debt level is expected to stay well below 60% of GDP in the medium term
4th lowest general government debt level in the Eurozone
Low debt level provides effective buffer for scenarios of
additional funding needs
General Government Debt Q3 2022, % GDP
(Eurozone countries)
Estonia
Lithuania
Luxembourg
Latvia
25
40
49
49
16
37
53
59
67
71
Ireland
Netherlands
Malta
Slovakia
Finland
Germany
Slovenia
Austria
Source: Eurostat
31
Cyprus
Euro area
Belgium
France
Spain
72
81
92
93
106
113
116
120
147
178
Portugal
Italy
Greece
General Government Debt % GDP
Stability and Growth Pact: 60%
43.6%
42.0%
41.9%
40.3%
40.9%
38.9%
39.3%
38.6%
37.0% 36.5%
2016
2017
2018
2019
2020
2021
2022 F
2023 F 2024 F
2025 F
Source: Eurostat, Law on State Budget for 2023 and budgetary framework for 2023-2025View entire presentation