Written answers
Thursday, 26 April 2012
Department of Finance
General Government Debt
8:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 59: To ask the Minister for Finance the composition of the general Government debt at the end of 2011; and if he will make a statement on the matter. [21059/12]
Michael Noonan (Limerick City, Fine Gael)
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The first estimate for end 2011 General Government debt was transmitted by the Department of Finance and the Central Statistics Office to Eurostat on 31st March as part of the Maastricht Returns. Following the usual clarification process, the return was published by my Department and Eurostat on Monday 23rd March. The CSO compiles quarterly estimates of General Government Debt one quarter in arrears. General Government Debt at end 2011 is reported as EUR169 billion, or 108% of GDP. Of this EUR137 billion is Gross National Debt and EUR28 billion is debt outstanding on the IBRC promissory note.
The composition of the General Government Debt on 31 December 2011 is as follows:
EUR billion
Government bonds 85.3 State savings (retail debt)1 14.0
Promissory note obligation 28.3
Programme assistance 35.7
Local Authorities & HFA debt 1.5
Short-term debt 2.9 Other2 1.5
1 State savings are defined on page 10 of the NTMA Annual Report 2010
2 'Other' includes other loans, swaps and related collaterals, coinage, the debt of the non-commercial semi-state sector and small savings accruals.
This is the latest official estimate of General Government Debt. The estimate is based on the latest available data from the NTMA, the CSO and within the Department.
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