Tuesday, 18 June 2019
Department of An Taoiseach
General Government Debt
General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office. It is the measure used for comparative purposes across the European Union Member States.
National Debt is the net debt incurred by the Exchequer after taking account of cash and other financial assets. The national debt is the principal component of general government debt. The latter measure also includes extra-budgetary funds, non-commercial state-sponsored bodies and the debt of local authorities.
The developments in the General Government Debt forecast for the years 2019 to 2023, broken down into available components, were published in Table A5 of the Stability Programme Update2019. The table is reproduced for the Deputy's convenience.
|€ billions, unless stated||2019||2020||2021||2022||2023|
|Opening general government debt||206.2||205.1||196.7||203.6||203.5|
|Exchequer borrowing requirement||2.1||-0.4||-0.6||0.2||-0.6|
|Change in Exchequer Deposits||-2.5||-8.3||5.1||-1.2||1.3|
|Net lending of NCSSBs*||-0.2||0.2||0.2||0.2||0.3|
|Net lending of local government||0.2||0.2||-0.1||-0.2||-0.3|
|Change in collateral held||0||0||0||0||0|
|Closing general government debt||205.1||196.7||203.6||203.5||206.0|
|General government debt to GDP ratio||61.1||55.8||55.4||53.2||51.6|
*NCSSBs = Non-commercial semi-state bodies