Pearse Doherty
Question:360. Deputy Pearse Doherty asked the Minister for Finance the general Government balance in nominal terms and as a percentage of GDP and GNI* in each of the years 2014 to 2022. [1875/23]
View answerWednesday, 18 January 2023
Questions (360)
Written answers
The Central Statistics Office (CSO) is responsible for the compilation of general government surplus/deficit outturn statistics, which are published through the Excessive Deficit Procedure (EDP) twice a year. The Department of Finance is responsible for the medium-term forecasts of these statistics, which are published twice a year as part of the Stability Programme Update and the Budget. Both the outturn and the forecasts are compiled in accordance with the European System of Accounts 2010 (ESA 2010).
In the table below, figures from 2014 to 2021 are compiled by the CSO. The figures in respect of 2022 are forecasts based on the Department's calculations published as part of Budget 2023 – Economic and Fiscal Outlook.
|
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
General Government Surplus/Deficit (€ Million) |
- 7,047 |
- 5,358 |
- 2,058 |
- 848 |
446 |
1,694 |
- 18,763 |
- 7,079 |
965 |
|
Percentage of GDP (%) |
- 3.6 |
- 2.0 |
- 0.8 |
- 0.3 |
0.1 |
0.5 |
- 5.0 |
- 1.7 |
0.2 |
|
Percentage of GNI* (%) |
- 4.7 |
- 3.3 |
- 1.2 |
- 0.5 |
0.2 |
0.8 |
- 9.4 |
- 3.0 |
0.4 |
The 2022 outturn will be formally published by the CSO in April, and the results will be incorporated into the Stability Programme Update (SPU).
The end year Fiscal Monitor, published on 3rd January[1], highlighted a significant improvement to the 2022 EBR which now stands at €5 billion. Such improvements to the EBR would be consistent with a General Government Surplus of c. €5.2 billion equivalent to 2 per cent of the GNI* and 1 per cent of the GDP.
[1] www.gov.ie/en/publication/9fd27-fiscal-monitor-december-2022/.