Greek Public Debt at €370.865bln at End of Q3 2024: ELSTAT

Greek public debt stood at €370.865 billion at the end of Q3 2024, slightly down from €371.483 billion in Q3 2023, according to the quarterly non-financial accounts of the General Government published by ELSTAT.

The General Government’s revenue amounted to €29.607 billion in Q3 2024, up from €27.214 billion in Q3 2023. Income and property taxes reached €6.311 billion, compared to €5.936 billion in the same period the previous year. Social contributions also increased, totaling €8.102 billion, compared to €7.449 billion in Q3 2023.

Greece paid €23.5 billion in public debt obligations in 2024. The repayment trajectory is expected to evolve steadily as part of the country’s fiscal management strategy.

Government Expenditure

• The General Government’s total expenditures rose to €26.340 billion in Q3 2024 from €25.831 billion in Q3 2023.
• Primary expenses: Increased to €24.274 billion from €23.875 billion.
• Compensation of employees: Reached €6.104 billion, compared to €5.837 billion.
• Social benefits: Climbed to €11.257 billion from €10.722 billion.
• Subsidies: Decreased to €709 million from €955 million in Q3 2023.

This financial snapshot of the Greek public debt reflects the ongoing adjustments in the country’s fiscal landscape as it balances debt repayment with economic and social commitments.

Greece plans to raise an additional €4 billion from the markets in 2025, having already secured €4 billion earlier, according to the program published by the Public Debt Management Agency (PDMA).

The country’s total financing needs, estimated at €15.28 billion, will primarily be covered through loans from the Recovery and Resilience Facility, revenues from privatizations, and a reduction in public cash reserves.