Post-Pandemic Evolution of Public Debt in European Countries

Dan Constantin Olteanu
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Dan Constantin Olteanu: Romanian Academy, National Institute of Economic Research

Working Papers of National Institute for Economic Research from Institutul National de Cercetari Economice (INCE)

Abstract: This study provides a comparative analysis, for the European countries, of how the volume and structure of public debt have evolved during the pandemic and in the following years. We will study the trend of public debt share in government revenues, the dynamics of public debt structure by financial instruments and maturity, the evolution of external and foreign currency public debt, the interest expenditures and the apparent cost of debt. The analyses show a substantial accumulation of debt in the EU27, with an average rate of over 6% in the period 2020-2023. Romania's public debt increased, in nominal terms, more than double between 2019 and 2023. The slope of the debt trend in Romania (rate of over 17% in 2022-2023) is worrying and its perpetuation over the next few years would put pressure, through debt service, on public spending that is already oversized in relation to revenues.

Keywords: public debt; debt structure; debt trend; debt stabilisation; government financing (search for similar items in EconPapers)
JEL-codes: H60 H63 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2024-12
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Persistent link: https://EconPapers.repec.org/RePEc:ror:wpince:241217

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