Dáil Éireann Debate, Tuesday - 21 October 2014
245. Deputy Michael McGrath asked the Minister for Finance the nominal GDP in 2013 under ESA, European system of accounts, 95 and ESA 2010 statistical methodologies; and the nominal general government deficit for 2013; and if he will make a statement on the matter. [40440/14]
View answerFrom September 2014, the new framework for national accounts statistics 'ESA2010' (European System of Accounts) has entered into force. It replaces the old framework of ESA1995. The new framework essentially modernises the previous standards contained in ESA 1995. Such changes are needed periodically in order to adapt the national accounts to the changing dynamics of economic activity, such as the advent of the knowledge economy. Updates are also needed in order to comply with international standards and preserve statistical comparability beyond the EU.
The Quarterly National Accounts Quarter 4 2013 published 13 March 2014 was the last to be released by the CSO under the ESA 1995 framework at this time the estimated Nominal GDP for 2013 was €164,050m.
Nominal GDP for 2013 is now €174,791m under the new ESA 2010 framework as published in the National Income and Expenditure Annual Results 2013 by the CSO on 3 July 2014.
The nominal General Government Deficit for 2013 is -€9,967m, as published by the CSO in the Government Finance Statistics Annual results on the 14 October 2014.
