Dermot Ahern
Question:68 Mr. D. Ahern asked the Minister for Finance the amount of the national debt as of January 1994, 1995 and 1996; and if he will make a statement on the matter. [8359/96]
Written Answers. - National Debt.
Data on the national debt are traditionally published at end-year and represent the opening balance on 1 January of the following year. The opening balance on 1 January for the years 1994 to 1996 were 1994 — £28,357 million, 1995 — £29,227 million, and 1996 — £30,210 million.
A succession of low budget deficits since the late 1980s, together with increases in Gross National Product, has resulted in a significant fall in the debt burden. In particular, over the two years in question, the debt ratio fell from over 100 per cent of GNP at 1 January 1994 to about 90 per cent by 1 January 1996. It is expected that, in the coming years, continued budgetary prudence combined with strong economic growth will yield further significant progress in this area.