The following table sets out the levels of Exchequer voted gross capital expenditure in each year from 2000 to 2013 in nominal terms and expressed as a percentage of GDP.
Figures for investment at EU level are available on the Eurostat website (http://epp.eurostat.ec.europa.eu/tgm/refreshTableAction.do?tab=table&plugin=0&pcode=teina210&language=en ).
The Eurostat estimate for average levels of Central Government fixed investment in 2013 was 2.2% of GDP for the Euro 28.
It is important to note that reporting investment as a percentage of GDP does not reflect either the existing level of capital endowment in the State or the level of maturity of the economy. For example, in a more mature economy, the economic return for additional investment may be lower and the opportunity cost of diverting additional resources towards investment may be high.
My Department is currently conducting a review of capital expenditure priorities. This will inform Government decisions on capital allocations for the medium term, and will form part of the forthcoming Budget deliberations.
Year
|
2000
|
2001
|
2002
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
2013
|
Amount €m
|
3,931
|
4,976
|
5,584
|
5,361
|
5,204
|
5,883
|
6,661
|
7,819
|
9,011
|
7,333
|
6,384
|
4,515
|
3,809
|
3,287
|
As % of GDP
|
3.7%
|
4.2%
|
4.3%
|
3.8%
|
3.5%
|
3.6%
|
3.8%
|
4.1%
|
4.8%
|
4.4%
|
3.90%
|
2.6%
|
2.2%
|
1.9%
|