Bernard J. Durkan
Question:155 Mr. Durkan asked the Minister for Finance the total national debt; the degree to which a reduction has taken place; and if he will make a statement on the matter. [14967/03]
Written Answers. - National Debt.
As at end December 2002 the national debt stood at €36,361 million, an increase of €178,000 on the end 2001 level of €36,183 million. This small increase is due to technical factors rather than increased borrowing – Ireland ran an Exchequer surplus of €95 million in 2002.
A slightly wider measure of debt, which includes the debt of the local government sector and non-commercial State bodies, is the general Government debt. The general Government debt-GDP ratio is the measure generally used for purposes of international comparison. Ireland's general Government debt-GDP ratio stood at 34% at end 2002 and it is projected to remain at this level at end 2003. This is the second lowest debt-GDP ratio in the EU.