Written answers
Tuesday, 2 October 2012
Department of Finance
National Debt
Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form the national debt as a percentage of gross domestic product and in nominal terms from 1992 to 2011. [41514/12]
Michael Noonan (Limerick City, Fine Gael)
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The information requested by the Deputy is provided as follows.
NIE | National Debt | GDP current Prices | National Debt as % GDP |
|---|---|---|---|
1992* | 33450 | 40,489 | 83% |
1993* | 36006 | 43,605 | 83% |
1994* | 37111 | 46,864 | 79% |
1995 | 38358 | 53,787 | 71% |
1996 | 37980 | 58,894 | 64% |
1997 | 38966 | 68,154 | 57% |
1998 | 37510 | 78,685 | 48% |
1999 | 39851 | 90,683 | 44% |
2000 | 36511 | 105,775 | 35% |
2001 | 36183 | 117,643 | 31% |
2002 | 36361 | 130,877 | 28% |
2003 | 37610 | 140,827 | 27% |
2004 | 37846 | 150,194 | 25% |
2005 | 38182 | 163,037 | 23% |
2006 | 35917 | 177,729 | 20% |
2007 | 37560 | 188,729 | 20% |
2008 | 50398 | 178,882 | 28% |
2009 | 75152 | 161,275 | 47% |
2012 | 93445 | 156,487 | 60% |
2011 | 119082 | 158,993 | 75% |
Source: NTMA, CSO
The GDP in current market prices for 1995 to 2011 is sourced from the CSO's National Income and Expenditure (NIE) tables.
*For 1992 to 1994 the historical NIE tables are used. This may introduce a break in the series.
Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form the annual cost of servicing the national debt in nominal terms and as a percentage of gross domestic product. [41515/12]
Michael Noonan (Limerick City, Fine Gael)
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The data requested by the Deputy for the period 1992-2011 is set out in the table. For consistency, the figures are presented in millions of euro. The Deputy might like to know that almost all of the data is contained in my Department’s Budgetary & Economic Statistics publication, the most recent edition of which was published in September 2011. The September 2011 and earlier editions are available on my Department’s website. The Net Debt Service figure for 2011 is taken from the accounts of the NTMA. I would also like to make the deputy aware that my department will be publishing the 2012 BES within the next few days, which also will be made available on my Department’s website.
The nominal GDP figures for the years 1992-2005 are from the September 2011 edition of the BES publication. The 2006-2011 figures are from the CSO’s National Income & Expenditure September 2012 publication.
End Year | Net Debt Service* | Nominal GDP | Net Debt Service as % of Nominal GDP |
|---|---|---|---|
1992 | 2944 | 40100 | 7.3% |
1993 | 2930 | 43189 | 6.8% |
1994 | 2937 | 46421 | 6.3% |
1995 | 2974 | 53692 | 5.5% |
1996 | 3142 | 59730 | 5.3% |
1997 | 3498 | 68624 | 5.1% |
1998 | 3060 | 79333 | 3.9% |
1999 | 2800 | 91391 | 3.1% |
2000 | 2575 | 105854 | 2.4% |
2001 | 2379 | 118122 | 2.0% |
2002 | 2169 | 131336 | 1.7% |
2003 | 2277 | 140981 | 1.6% |
2004 | 2203 | 150560 | 1.5% |
2005 | 2238 | 163462 | 1.4% |
2006 | 2379 | 177729 | 1.3% |
2007 | 2142 | 188729 | 1.1% |
2008 | 2098 | 178882 | 1.2% |
2009 | 3214 | 161275 | 2.0% |
2010 | 4236 | 156487 | 2.7% |
2011 | 5375 | 158993 | 3.4% |
*Net Debt Service encompasses debt interest, sinking fund & expenses of issue, as well as changes in assets of the Capital Services Redemption Accounts.
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