Written answers

Wednesday, 26 October 2016

Photo of Maureen O'SullivanMaureen O'Sullivan (Dublin Central, Independent)
Link to this: Individually | In context | Oireachtas source

63. To ask the Minister for Finance the nominal GNP numbers for 2015-2021 that underpin budget 2017; the reason he excluded these figures from the budget documentation published on budget day; and if he will make a statement on the matter. [32287/16]

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

My Department's forecasts for growth in real GDP and GNP are included in table 3 of the Fiscal and Economic Outlook (page c.13). These measures of economic output are adjusted for price changes i.e. inflation or deflation, and as a result provide a more accurate measure of economic growth than nominal metrics.

Nominal GDP forecasts have been reported in Budget 2017 as EU Member States express fiscal metrics such as the General Government Balance and General Government Gross Debt as a share of nominal GDP rather than nominal GNP.

The nominal GNP forecasts underpinning Budget 2017 for 2015-2021 are provided in the table below. Figures from 2018 onwards are on a no policy change basis.

2015201620172018201920202021
Nominal GNP (nearest €25m)202,650215,425224,950235,000245,350255,400265,800
Source: 2015Central Statistics Office (CSO); 2016 to 2021- Department of Finance.

Comments

No comments

Log in or join to post a public comment.