Written answers
Thursday, 7 May 2015
Department of Finance
National Debt
Bernard Durkan (Kildare North, Fine Gael)
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65. To ask the Minister for Finance the extent to which total national debt as a percentage of gross domestic product has remained constant, or has fluctuated, over the past three years; and if he will make a statement on the matter. [18041/15]
Michael Noonan (Limerick City, Fine Gael)
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As per the Deputy's request debt as a percentage of GDP for the past three years can be outlined as follows:
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| National debt (€m) | 137,632 | 173,947 | 182,310 |
| General government debt (€m) | 210,238 | 215,328 | 203,319 |
| GDP (€m) | 172,755 | 174,791 | 185,412 |
| National debt (% GDP) | 79.7 | 99.5 | 98.3 |
| General government debt (%GDP) | 121.7 | 123.2 | 109.7 |
It should be noted that National Debt is the net debt incurred by the Exchequer after taking account of cash and other financial assets while General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO). This is the measure used for comparative purposes across the European Union.
As per the recently published 'Stability Programme Update 2015' the debt to GDP ratio is expected to have peaked in 2013 and has continued on a downward trajectory since this date.
The Deputy should also be made aware that the aforementioned figures are published on the CSO website.
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