Oireachtas Joint and Select Committees

Wednesday, 3 May 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Examination of EU Fiscal Rules: TASC

Dr. Robert Sweeney:

As the Senator mentioned, our debt to GDP is below 60%. As everyone knows, GDP, in an Irish context, is very misleading. Our debt to GNI* is projected by the recent July economic statement to be 79% for 2023, falling thereafter to 75%. If a sensible metric of national income were used, we would not be complying with the rules, which speaks to the arbitrariness of those rules.

On exclusions, if I understand correctly, the Senator asked how one might get around that. The November-----