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Greece reports declining public debt and improved tax competitiveness
Greece has seen a significant reduction in its public debt, which fell to 140.8% of GDP in the second quarter of 2026, according to ELSTAT. This represents a decrease of approximately 10 billion euros compared to the second quarter of 2025. The country also recorded a primary surplus of 5.228 billion euros for the same period.
In terms of international rankings, the 2026 International Tax Competitiveness Index, published by the Tax Foundation and KEThIM, places Greece 23rd among 38 OECD countries. While its overall score improved slightly to 65.9 from 65.7, its ranking remained unchanged. Greece performs exceptionally well in personal income taxation, ranking 5th globally, and maintains a corporate tax rate below the OECD average.
However, the report highlights weaknesses in consumption and property taxation. Greece ranks 29th in consumption taxation, driven by a high VAT rate of 24% and a relatively narrow tax base, and 30th in property taxes. Additionally, the study notes challenges regarding the offsetting of business losses and various taxes on property transactions and wealth.
Entities
Center for Liberal Studies · ELSTAT · Eurostat · Greece · OECD · Tax Foundation
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Greece ranks 23rd out of 38 OECD countries in the 2026 International Tax Competitiveness Index. www.iefimerida.gr · www.emakedonia.gr · www.mononews.gr
- [● 3 SOURCES] Greece ranks 5th in the OECD for individual income taxation. www.iefimerida.gr · www.emakedonia.gr · www.mononews.gr
- [● 3 SOURCES] The standard VAT rate in Greece is 24%. www.iefimerida.gr · www.emakedonia.gr · www.mononews.gr
- [● 3 SOURCES] Greece's overall score in the index increased to 65.9 out of 100, up from 65.7 the previous year. www.iefimerida.gr · www.emakedonia.gr · www.mononews.gr
- [● 3 SOURCES] The corporate tax rate in Greece is lower than the OECD average. www.iefimerida.gr · www.emakedonia.gr · www.mononews.gr