The Czech national debt is the fourth lowest in the European Union, if measured as a percentage of its GDP. While the European average fell last year from 83.3 percent to 81.6 percent of GDP, the Czech Republic’s dropped to 34.6 fro 36.8 percent. Eurostat data put Estonia as the country with the lowest debt to GDP ratio at a mere 8 percent. The biggest debtor given this indicator is Greece, whose debt is 179 percent of GDP. But the chief economist of Cyrrus Lukáš Kovanda warns that low debt levels doesn’t guarantee fiscal stability forever. “The govermment shouldn’t rest on its laurels, because it’s more of a one-eyed king amongst the blind,” Kovanda told aktualne.cz. “What’s alarming to a certain extent is the fact that the Czech debt is rising quite noticably,” he said, pointing out that the current level of debt is the fourth highest in the country’s history.
