The most recent forecasts were made as part of Budget 2014 and are shown in the following table.
Budget 2014 forecasts
-
|
2013
|
2014
|
2015
|
2016
|
National Debt (€ billion)
|
173.8
|
183.6
|
189.8
|
193.0
|
Interest on National Debt (€ billion)
|
7.2
|
8.2
|
8.8
|
9.1
|
% change in Real GDP
|
0.2
|
2.0
|
2.3
|
2.8
|
Unemployment rate %
|
13.5
|
12.4
|
11.8
|
11.4
|
Source: Department of Finance & NTMA
The Deputy should bear in mind the distinction between National Debt and General Government Debt (GGD). National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other financial assets and is reflected in the table above. GGD on the other hand is a measure of the total gross consolidated debt of the State and is the measure used for comparative purposes across the European Union. It is reported on a gross basis and, unlike National Debt, it does not net off cash balances and other financial assets.