Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I welcome the Minister and his colleagues. I wish to make an important technical point on the GDP-GNP reverse gap. Effectively, GNP is significantly higher than GDP, which is having an impact on reaching the excessive deficit procedure targets. The margin the last time was 3.7%. In 2013 GDP growth was minus 0.3% and GNP was 3.4%, which represents a differential of 3.7%. The Minister is projecting that in 2014 GDP will be 2.1% and GNP will be 2.7%, which is a 0.6% differential.

When is it anticipated they will converge and we will return to normal GDP versus GNP? The real economy is doing exceptionally well with regard to meeting targets based on GDP. In his interaction with our partners in Europe, has the Minister examined the introduction of GNP as part of the measure? It is far ahead of GDP, and GNP growth is clearly reflected in growth in employment. It is having an impact and I would like the Minister's thoughts on it.