Last year, Greece’s public debt rose to to $347.78 billion from 2015’s figure of $342.42 billion, a $5 billion increase stemming from interest rates on Greek debt that resulted in a budget deficit at the end of 2016.
Although there was a primary budget surplus recorded in fiscal
year 2015, it was not high enough to cover interest on the country’s debt,
which hit $5.95 billion. The country can expect to see its debt increase in
2017 as well, barring a budget surplus of more than 3 percent of its 2017 GDP.
Greek public debt increases by $5 billion
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