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Debt Statistics a La Carte: Alternative Recipes for Measuring Government Indebtedness
Abstract: According to Eurostat, the Greek government owed ?317 billion in debt at the end of 2014. This is equivalent to more than 177% of gross domestic product (GDP) or 387% of tax revenue, and amounts to almost ?30,000 per person. This seems like a very large sum. For comparison, of the other highly indebted European countries that received financial assistance, Portuguese government debt amounted to 130% of GDP, while Irish government debt amounted to 110% of GDP
Keywords: Debt; International Monetary Fund (IMF); Eurozone; Gross domestic product (GDP); Eurostat;
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Provider: Federal Reserve Bank of Chicago
Part of Series: Chicago Fed Letter
Publication Date: 2016
Order Number: 362