Oireachtas Joint and Select Committees
Thursday, 13 February 2014
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund
3:20 am
Mr. John Corrigan:
Although we do not yet have the final GDP figures, we estimate that at the end of 2013 it will be about 122%. We expect it will fall through 2014, 2015 and 2016, so one would be looking at a figure at the end of 2016 of about 115% of GDP. I should add that under the conventions for reporting debt these figures are gross. They do not take into account the cash balances we discussed earlier, which are necessarily held by the Exchequer. Nor do they allow for the assets of the National Pensions Reserve Fund. Measured on a net basis, at the end of 2013, the figure was probably less than 100%.