Written answers
Thursday, 10 November 2016
Department of Finance
Budget Deficit
Bernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source
127. To ask the Minister for Finance the extent to which the budget deficit as a percentage of gross domestic product has fluctuated in each of the past five years and in 2016 to date; and if he will make a statement on the matter. [34283/16]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
The annual general government balance (GGB) is produced by the CSO and published as part of the Government Finance Statistics (GFS) (available on the CSO website at )
In the following table the Deputy can see the movement of the GGB for the period 2011-2016Q2 as published in the GFS and the Government Income and Expenditure (GIE) Release from July of this year.
GGB as a percentage of Gross Domestic Product 2011-2016*
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 Q1 | 2016 Q2 | |
|---|---|---|---|---|---|---|---|
| GFS April 2013 | -13.4 | -7.6 | - | - | - | - | - |
| GFS October 2013 | -13.1 | -8.2 | - | - | - | - | - |
| GFS April 2014 | -13.1 | -8.2 | -7.2 | - | - | - | - |
| GFS October 2014 | -12.6 | -8.0 | -5.7 | - | - | - | - |
| GFS April 2015 | -12.7 | -8.1 | -5.8 | -4.1 | - | - | - |
| GFS October 2015 | -12.5 | -8.0 | -5.7 | -3.9 | - | - | - |
| GFS April 2016 | -12.6 | -8.0 | -5.7 | -3.8 | -2.3 | - | - |
| GFS October 2016 | -12.6 | -8.0 | -5.7 | -3.7 | -1.9 | - | - |
| GIE July 2016 | -12.6 | -8.0 | -5.7 | -3.7 | -1 .8 | - | - |
| GFS Q1 2016 | - | - | - | - | - | -2.3 | - |
| GFS Q2 2016 | - | - | - | - | - | -2.3 | 0.3 |
* It should be noted that the Government Finance Statistics annual release commenced publication in April 2013. Any period for which there is no data it should be taken that the statistical release did not cover this period.
As well as regular revisions due to updated data sources the following significant revisions are worth noting:
The revision to the deficit/GDP ratio for 2012 between the April and October 2013 release due to a change arising from the treatment of the sale of mobile telephone licences by the State as directed by Eurostat.
The revision to the deficit/GDP ratio for 2013 between the April and October 2014 release due to the methodological or technical changes found in the adoption of ESA2010, replacing ESA95, which was reflected for the first time in Irish national accounts from July of 2014 onwards.
The revision to in the deficit/GDP ratio for the year 2015 between the April 2016 release and the subsequent July GIE and October GFS due to the significant upward revision in GDP for 2015 (26.3% increase).
No comments