Written answers
Tuesday, 1 December 2009
Department of Finance
Fiscal Policy
12:00 pm
Ciarán Cuffe (Dún Laoghaire, Green Party)
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Question 102: To ask the Minister for Finance the amount of money borrowed each week to pay for the current spending in pay and services; and if he will make a statement on the matter. [44029/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Pre-Budget Outlook, published on 12 November last, sets out the technical budgetary projections for 2009 and 2010 on a pre-Budget basis. Based on these projections, the Current Budget deficit for 2009 is estimated to be in the region of €12.5 billion, the equivalent of some €240 million per week. As with all other budgetary estimates, a revised forecast for the Current Budget deficit for 2009 will be published on Budget day, 9 December.
As set out in the Pre-Budget Outlook, my Department expects the overall General Government deficit to be in the region of 12 per cent of GDP at end 2009. The Government is determined to make the necessary adjustments to stabilise the deficit in 2010 and Budget 2010 is being framed in that context.
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