Oireachtas Joint and Select Committees

Wednesday, 8 March 2017

Committee on Budgetary Oversight

Developments in the National Debt: National Treasury Management Agency

2:00 pm

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

So we can have all these indicators like GNP, GDP, GNI and GNI*, which are all very interesting and will all tell us different things, but in reality, the only one that really matters is the GDP figure. The GDP ratio versus debt is how we measure the fiscal space and, consequently, apply the fiscal rules. That is an important distinction because it relates to our work in terms of how much money will be there for us to invest in the economy in future years.

How sustainable is the debt? What type of risk analysis is undertaken by the NTMA in respect of the sustainability of debt? It is just above €200 million. Is that the-----

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