Written answers

Tuesday, 18 June 2019

Department of Finance

General Government Debt

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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141. To ask the Minister for Finance the forecasted general government debt from 2019 to 2023, broken down by component parts, including the component parts that make up the gross national debt, the national debt and other general government debt components that make up the ultimate General Government Debt; and if he will make a statement on the matter. [25204/19]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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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 Update 2019. The table is reproduced below for the Deputy's convenience.

€ billions, unless stated20192020202120222023
Opening general government debt206.2205.1196.7203.6203.5
Exchequer borrowing requirement2.1-0.4-0.60.2-0.6
Change in Exchequer Deposits-2.5-8.35.1-1.21.3
Net lending of NCSSBs*-0.20.20.20.20.3
Net lending of local government0.20.2-0.1-0.2-0.3
Change in collateral held00000
Other-0.7-0.12.30.81.8
Closing general government debt205.1196.7203.6203.5206.0
General government debt to GDP ratio61.155.855.453.251.6

*NCSSBs = Non-commercial semi-state bodies

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