According to sources in the Greek government and information contained in Italy's multi-annual budget plan, based on Reuters, Italy will overtake Greece at the end of 2026 as the most indebted country in the euro zone. Their debt will reach 138.6%. GDP, and Greece – 137%. GDP.
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Greece's debt in 2025 reached 145%. GDP and has been reduced by more than 45 percentage points since 2020, while in the same period Italy's debt has only decreased by 17 percentage points. According to the forecasts included in the Italian budget proposal, in 2027 the state debt will remain at a stable level, in the next year it will amount to 137.9%. GDP, and in 2029 – 136.3 percent. GDP.
Italy. Debt and budget deficit are growing
On Wednesday, the Greek statistical office reported that in 2025, Greece recorded a budget surplus of over 12 billion euros, which is approximately 4.9 percent. GDP.
Greece has so far remained the most indebted country in the euro zone. In the years 2010-2015, it received over EUR 260 billion in international aid in exchange for very severe austerity measures, including cuts in wages and pensions. After 2018, the country's situation improved somewhat and lenders agreed to ease restrictions.
See also: The Italian deficit stubbornly refuses to shrink. Giorgia Meloni's prospects of staying in power are now receding
Italy is facing weakening economic growth prospects and rising debt, Reuters reports. Combined with rising energy prices, this may mean they are unable to increase defense spending as planned. The government of Prime Minister Giorgia Meloni on Wednesday lowered economic growth forecasts and increased forecasts for the budget deficit and public debt.
