The above figures refer to Public Debt at the central government level,in which government bonds purchased by domestic public entities (e.g., insurance funds, hospitals, municipalities) are counted.
That is, it refers to the total amount of financial liabilities (loans, bonds, treasury bills) directly undertaken by the government through its central bodies.
At the general government level (which excludes intergovernmental debt), public debt fell to 360.5 billion euros from 362.95 billion euros at the end of 2025.
Central government Treasury assets at the end of March fell to 13.028 billion euros. EUR 16.1 billion at the end of 2025.
Note that cash reserves include the cash buffer account, the so-called “hard cushion” with a balance of EUR 5.4 billion.
The average interest rate at which the public debt is serviced was 1.38% and 1.84% if deferred tax is included.
The largest part of the Public Debt represents intergovernmental loans and loans received by the country under the Memorandum mechanism, which at the end of March had been reduced to €292.2 billion from €297.45 billion at the end of 2025.
