BRUSSELS: Eurozone Public debt — the accumulated total of government budget deficits and borrowing — rose sharply earlier this year, reversing a downtrend when the economic crisis eased, official figures showed on Tuesday.

The 28 European Union states are supposed to keep total public debt below the equivalent of 60 per cent of annual economic output, while annual budget deficits must not exceed 3pc.

For years, however, these limits have been breached and total debt increased sharply during the crisis as governments borrowed even more to bolster their economies.

The result is that total debt in the 18 eurozone countries rose to 93.9pc of gross domestic product in the first three months of 2014, up from 92.7pc in the fourth quarter 2013.

In the full 28-member EU, total debt rose to 88pc from 87.2pc, the Eurostat statistics agency said.

Published in Dawn, July 23rd , 2014