Greece records €12.8B primary surplus as public debt ratio falls to 145.4%

At the same time, the public debt-to-GDP ratio was revised downwards to 145.4%, from 146.1%. The changes are included in ELSTAT’s second Excessive Deficit Procedure (EDP) notification for 2026, submitted to Eurostat and covering fiscal data for the 2022–2025 period.

According to the revised figures, Greece’s general government surplus reached €4.935 billion in 2025, while consolidated public debt amounted to €362.995 billion.

ELSTAT attributed the revisions compared with the previous notification primarily to updated data, methodological changes and the classification of specific transactions.

Primary Surplus Reaches €12.8 Billion

Greece’s general government primary surplus remained particularly high, reaching €12.777 billion in 2025, compared with €11.551 billion in 2024. As a percentage of GDP, the primary surplus rose to 5.1%, from 4.9% a year earlier.

The country’s nominal GDP increased to €249.726 billion in 2025, from €237.706 billion in 2024, expanding the base used to calculate fiscal indicators.

General government revenue totalled €124.282 billion, while expenditure amounted to €119.347 billion. The difference between the two figures resulted in a surplus of €4.935 billion.

Public Debt Ratio Falls by 8.1 Percentage Points

In absolute terms, public debt declined by approximately €2 billion over the year, from €364.960 billion in 2024 to €362.995 billion in 2025.

The reduction was more pronounced as a percentage of GDP, with the debt ratio falling by 8.1 percentage points, from 153.5% in 2024 to 145.4% in 2025.

This development reflects both the reduction in nominal public debt and the increase in nominal GDP, which improves the ratio of debt to the size of the economy.

The revised figures highlight the improvement in Greece’s fiscal performance in 2025, with the substantial primary surplus and the declining public debt-to-GDP ratio serving as key indicators of the country’s fiscal position.