I propose to take Questions Nos. 59 and 60 together.
The general government deficit in monetary and percentage terms for 2010 and the latest projections for 2013 (as at Budget 2014) are detailed in the following table. The outturn for 2013 will be finalised and published on EUROSTAT's website on 22nd April 2014 -http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home/.
Description
|
2010
|
2011
|
2012
|
2013*
|
General government deficit
|
€48,389m
|
€21,358m
|
€13,511m
|
€12,150m
|
General government deficit / GDP
|
30.6%
|
13.1%
|
8.2%
|
7.3%
|
Underlying general government deficit / GDP
|
10.6%
|
8.9%
|
8.2%
|
7.3%
|
* As set out in Budget 2014 on 15th October 2013
The underlying general government deficit excludes the effect of capital injections into financial institutions, in particular the promissory note transactions in 2010. The underlying balance is the measure set under the EDP targets.
In regard to the rate of the deficit as a percentage of GDP, the deficit is not expressed in real terms and therefore, there is no applicable rate of deficit. For comparative purposes across the EU, the general government deficit is expressed as a percentage of the GDP in the given year.