Written answers
Wednesday, 7 March 2012
Department of Finance
Sovereign Debt
6:00 pm
Seán Fleming (Laois-Offaly, Fianna Fail)
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Question 40: To ask the Minister for Finance if he will set out in tabular form for each year from 1970 the percentage growth in GDP for the year; the overall Government debt at the end of the year and the total Government debt as a percentage of GDP; and if he will make a statement on the matter. [13053/12]
Michael Noonan (Limerick City, Fine Gael)
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The information which the Deputy requests is set out in the table. In regards to Government debt, the General Government debt is the standard measurement of gross indebtedness used for comparative purposes within the EU and, as such, is often expressed as a percentage of GDP. Historical figures for the General Government debt back to 1970 are not available as the harmonised methodology for calculating the General Government debt was only agreed in the mid-1990s.
The Deputy has asked for total Government debt as a percentage of GDP, but he may be interested to know that historical figures for the National Debt, which is a narrower measurement than General Government debt, excluding, amongst other things, local government borrowing, are available in the Budget and Economic Statistics on my Department's website.
| Nominal GDP (€m) | Real GDP Growth | General Govt Debt (€m) | GG Debt as % of GDP | |
| 1970 | 2,220 | - | - | - |
| 1971 | 2,538 | 4.6% | - | - |
| 1972 | 3,084 | 6.9% | - | - |
| 1973 | 3,724 | 5.6% | - | - |
| 1974 | 4,138 | 2.6% | - | - |
| 1975 | 5,203 | 1.4% | - | - |
| 1976 | 6,409 | 3.3% | - | - |
| 1977 | 7,801 | 6.3% | - | - |
| 1978 | 9,220 | 7.2% | - | - |
| 1979 | 10,922 | 4.2% | - | - |
| 1980 | 12,961 | 2.9% | - | - |
| 1981 | 15,727 | 2.5% | - | - |
| 1982 | 18,657 | 1.5% | - | - |
| 1983 | 20,564 | -0.7% | - | - |
| 1984 | 22,774 | 3.2% | - | - |
| 1985 | 24,739 | 1.9% | - | - |
| 1986 | 26,352 | 0.4% | - | - |
| 1987 | 28,163 | 3.6% | - | - |
| 1988 | 30,085 | 3.0% | - | - |
| 1989 | 33,373 | 5.6% | - | - |
| 1990 | 36,184 | 7.7% | - | - |
| 1991 | 37,649 | 1.6% | - | - |
| 1992 | 40,100 | 3.6% | - | - |
| 1993 | 43,189 | 2.3% | - | - |
| 1994 | 46,421 | 5.9% | - | - |
| 1995 | 52,541 | 9.6% | - | - |
| Break in the series* | ||||
| 1995 | 53,692 | - | 43,597 | 81% |
| 1996 | 59,370 | 7.6% | 43,162 | 73% |
| 1997 | 68,624 | 10.9% | 43,694 | 64% |
| 1998 | 79,333 | 7.8% | 42,081 | 53% |
| 1999 | 91,391 | 9.9% | 43,853 | 48% |
| 2000 | 105,854 | 9.3% | 39,659 | 37% |
| 2001 | 118,122 | 4.8% | 41,576 | 35% |
| 2002 | 131,336 | 5.9% | 41,912 | 32% |
| 2003 | 140,981 | 4.2% | 43,322 | 31% |
| 2004 | 150,560 | 4.5% | 44,255 | 29% |
| 2005 | 163,462 | 5.3% | 44,393 | 27% |
| 2006 | 178,297 | 5.3% | 44,059 | 25% |
| 2007 | 189,933 | 5.2% | 47,159 | 25% |
| 2008 | 179,990 | -3.0% | 79,602 | 44% |
| 2009 | 160,596 | -7.0% | 104,648 | 65% |
| 2010 | 155,992 | -0.4% | 144,269 | 92% |
| * GDP prior to 1995 calculated without FISIM (source: CSO) |
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