James Reilly (Dublin North, Fine Gael)
Link to this: Individually | In context

Question 102: To ask the Minister for Finance the national debt as a percentage of GNP each year from1980 to 2010; the general Government debt each year from 1980 to 2010; and if he will make a statement on the matter. [25951/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

The national debt as a percentage of GNP for the period from 1980 to 2010 is set out in Table 1 below.

Table 1: National Debt as a % of GNP 1980-2010

*2010 figure based on Budget 2010 forecasts

The General Government Debt is the standard measure of debt used within the EU for comparative purposes. It includes the National Debt as described above, as well as Local Government debt and some other minor liabilities of Government. In addition, it is a gross measure of debt as it does not allow for the netting of cash balances or, in more recent years, the assets of the National Pensions Reserve Fund, both of which are significant and at-end 2009 amounted to some 27% of GDP.

The General Government Debt is usually expressed as percentage of GDP. The figures in the table below have been compiled on an ESA95 basis (the European system of accounting which defines the accounting rules to be used by all EU Member States). Figures are not available on this basis prior to 1990.

Table 2: General Government Debt as % of GDP 1990-2010

* Figures from 1990-2005 have been supplied by the Central Statistics Office

**Figures for 2006-2010 taken from the Maastricht returns published on 22nd April 2010