Written answers

Thursday, 14 March 2013

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance if the economy here is currently working off of a primary deficit or a primary surplus; and if he will make a statement on the matter. [13445/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Table 9, page C.18 of Budget 2013 sets out the fiscal forecasts for the period 2012-2015.

This table includes the figures for the underlying General Government primary balance in nominal terms and as a % of GDP. These figures are presented as follows.

2012
2013
2014
2015
Underlying GG primary balance
-7,010
-3,390
745
4,680
Underlying GG primary balance as a % of GDP
-4.3
-2.0
0.4
2.6

I would like to stress that the achievement of a General Government primary surplus – that is an excess of revenues over expenditure excluding debt interest expenditure – will play a key role in ensuring Ireland’s debt sustainability. An update of the fiscal forecasts will be contained in April’s Stability Programme Update.

Comments

No comments

Log in or join to post a public comment.