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Government Deficit

Dáil Éireann Debate, Thursday - 3 April 2014

Thursday, 3 April 2014

Questions (59, 60)

Brendan Griffin

Question:

59. Deputy Brendan Griffin asked the Minister for Finance the State's overall budgetary deficit in monetary and percentage terms when the Government took office; the current figures for same; and if he will make a statement on the matter. [15794/14]

View answer

Brendan Griffin

Question:

60. Deputy Brendan Griffin asked the Minister for Finance the rate of deficit as a percentage of GDP when the Government took office; the current rate of same; and if he will make a statement on the matter. [15795/14]

View answer

Written answers

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.

Question No. 61 answered with Question No. 58.
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