The debt-to-GDP ratio hit 50%, from 49.1% at the end of April and 48.8% at the end of 2021.
The country's public debt thus increased by EUR 7.5 billion in the first five months of the year, half the increase during the whole of last year.
The debt-to-GDP ratio increased however by 1.2 percentage points, compared to the 1.4 p.p. advance seen throughout 2021.
This was because nominal GDP (gross domestic product) in 12 months to March 2022 (the latest rolling 12-month data available) edged up by only 3.9% compared to the 2021 GDP – a moderate advance compared to the expected rise in the nominal GDP for the whole of 2022.
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