household debts in Greece

Gross debt in Greece

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. Not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Greece in the period from 1998 to 2021 was between 128.6 billion and 495.9 billion USD. The hightest level within the past 23 years was reached in 2011. However, the liabilities in 2021 have been only 418 billion USD The budget deficit in the same year was 16.1 billion USD.

Based on the number of inhabitants, this is a debt of 39,277 USD per person. For comparison, the average debt per person in the same year in the European Union was 33,695 USD.

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Gross debt of the last 23 years in billion USD

YearGreece totalGreece per capitaEU per capita
1998128.58 bn USD11,994 USD14,079 USD
1999130.38 bn USD12,116 USD14,032 USD
2000136.89 bn USD12,668 USD11,232 USD
2001145.96 bn USD13,437 USD11,255 USD
2002162.09 bn USD14,867 USD12,258 USD
2003205.32 bn USD18,789 USD15,286 USD
2004247.89 bn USD22,627 USD17,595 USD
2005266.21 bn USD24,229 USD18,327 USD
2006283.43 bn USD25,718 USD18,877 USD
2007328.80 bn USD29,760 USD20,898 USD
2008389.43 bn USD35,154 USD24,086 USD
2009419.92 bn USD37,807 USD25,361 USD
2010438.24 bn USD39,405 USD26,496 USD
2011495.88 bn USD44,654 USD29,231 USD
2012391.97 bn USD35,489 USD28,174 USD
2013425.65 bn USD38,819 USD29,981 USD
2014424.63 bn USD38,984 USD30,648 USD
2015345.86 bn USD31,963 USD25,918 USD
2016348.69 bn USD32,358 USD26,261 USD
2017358.66 bn USD33,349 USD27,024 USD
2018395.31 bn USD36,831 USD28,448 USD
2019370.66 bn USD34,571 USD27,168 USD
2020389.64 bn USD36,420 USD30,783 USD
2021417.95 bn USD39,277 USD33,695 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Greece       European Union

Budget deficit in Greece

household debts in GreeceThe budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurance, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money than at at the beginning, it is a surplus. If it is less, it is called a deficit.

The budget balance in Greece in the period between 2000 and 2021 varied between -50.19 billion euros and +2.36 billion euros. In 2021, Greece reached a balance of -16 billion euros.

In ratio to population, this equals a new indebtedness of 1,510 euros per capita in Greece in 2021. For comparison, the average debt per capita in the European Union in the same year was 1,787 euros.

Budget deficit and surplus in the last 21 years

YearGreece totalGreece per capitaEU per capita
2000-4.70 bn USD-435 USD112 USD
2001-5.86 bn USD-539 USD-299 USD
2002-7.06 bn USD-647 USD-565 USD
2003-11.02 bn USD-1,008 USD-840 USD
2004-21.27 bn USD-1,942 USD-920 USD
2005-15.34 bn USD-1,396 USD-822 USD
2006-16.27 bn USD-1,476 USD-568 USD
2007-21.39 bn USD-1,936 USD-360 USD
2008-36.22 bn USD-3,269 USD-1,085 USD
2009-50.19 bn USD-4,518 USD-2,021 USD
2010-33.55 bn USD-3,017 USD-1,970 USD
2011-29.62 bn USD-2,667 USD-1,462 USD
2012-22.00 bn USD-1,992 USD-1,220 USD
2013-31.90 bn USD-2,909 USD-1,027 USD
2014-8.54 bn USD-784 USD-852 USD
2015-11.49 bn USD-1,062 USD-577 USD
20160.47 bn USD44 USD-423 USD
20171.16 bn USD108 USD-263 USD
20181.98 bn USD184 USD-139 USD
20192.36 bn USD220 USD-197 USD
2020-19.17 bn USD-1,792 USD-2,312 USD
2021-16.07 bn USD-1,510 USD-1,787 USD

(negative numbers = deficit)
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