Oireachtas Joint and Select Committees
Thursday, 8 May 2014
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
2:05 pm
Mr. John McCarthy:
Yes, we set out that figure in the stability programme on the basis of real GDP growth of 2.7% and nominal GDP growth of 3.6%. On that basis, we will need additional consolidation of approximately €2 billion to achieve the required correction of the excessive deficit by next year, which is our legal requirement.
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