European Commission expects major increase in Greek debt in 2015, 2016: German newspaper
The European Commission expects a major increase in Greece’s debt over the next two years, the German daily Die Welt reported Thursday, claiming to have seen Brussels’ latest analysis of the debt burden.
According to the newspaper, the Commission’s study predicts Greece’s debt to grow to 196 percent of gross domestic product (GDP) in 2015 and to 201 percent of GDP in 2016.
The country’s current debt burden stands at around 320 billion euros, or 170 percent of national output.
Looking ahead, the study forecasts the debt dropping to 175 percent of GDP in 2020 and around 122 percent by 2030, a level still higher that the 120 percent that the International Monetary Fund considers a sustainable debt limit, the paper said.