Brendan Howlin (Wexford, Labour) | Oireachtas source

Next year, notwithstanding the increases I am announcing today, the forecast deficit will be 1.2% of GDP, one of the lowest in Europe. Only a few years ago, some commentators questioned the sustainability of our debt. As the Minister for Finance, has stated, from a peak of over 120%, next year our debt to GDP ratio is forecast to be 93%, that is below the European average. We have made tremendous progress in bringing our national debt down towards European norms. Unemployment, which peaked at over 15%, is now 9.4%.

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