Written answers
Thursday, 5 December 2013
Department of Finance
National Debt
Terence Flanagan (Dublin North East, Independent)
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69. To ask the Minister for Finance if he will provide in tabular form his Department's prediction for the national debt figures, interest payments, economic growth figures and unemployment rates and number for 2013, 2014, 2015 and 2016; and if he will make a statement on the matter. [52371/13]
Michael Noonan (Limerick City, Fine Gael)
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The most recent forecasts were made as part of Budget 2014 and are shown in the table below.
Budget 2014 forecasts
| - | 2013 | 2014 | 2015 | 2016 |
|---|---|---|---|---|
| National Debt (€ billion) | 173.8 | 183.6 | 189.8 | 193.0 |
| Interest on National Debt (€ billion) | 7.2 | 8.2 | 8.8 | 9.1 |
| % change in Real GDP | 0.2 | 2.0 | 2.3 | 2.8 |
| Unemployment rate % | 13.5 | 12.4 | 11.8 | 11.4 |
Source: Department of Finance & NTMA
The Deputy should bear in mind the distinction between National Debt and General Government Debt (GGD). National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other financial assets and is reflected in the table above. GGD on the other hand is a measure of the total gross consolidated debt of the State and is the measure used for comparative purposes across the European Union. It is reported on a gross basis and, unlike National Debt, it does not net off cash balances and other financial assets.
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