Ivor Callely
Ceist:44 Mr. Callely asked the Minister for Finance the national debt per head of population for each year from 1985 to 1995; the way in which this figure is derived; and if he will make a statement on the matter. [7608/96]
Written Answers. - National Debt.
The national debt per head of population for each year from 1985 to 1995 is set out in the following table:
|
Year |
National Debt (IR£m)¹ |
Population (000's)² |
National Debt per capita (IR£) |
|
1985 |
18,502 |
3,540 |
5,227 |
|
1986 |
21,611 |
3,541 |
6,103 |
|
1987 |
23,694 |
3,546 |
6,682 |
|
1988 |
24,611 |
3,531 |
6,970 |
|
1989 |
24,828 |
3,510 |
7,074 |
|
1990 |
25,083 |
3,506 |
7,154 |
|
1991 |
25,378 |
3,526 |
7,197 |
|
1992 |
26,344 |
3,549 |
7,423 |
|
1993 |
28,357 |
3,563 |
7,959 |
|
1994 |
29,227 |
3,571 |
8,185 |
|
1995 |
30,211 |
3,582 |
8,434 |
Notes: (1) National Debt figures are as at 31 December for each year.
(2) Population figures for 1986 and 1991 are based on the Census of Population results for each of those years. Figures used for other years are estimates produced by the Central Statistics Office based on the results of the annual Labour Force Survey.
National debtper capita is calculated as national debt divided by total population.
While the nominal amount of national debt per head of population has increased significantly since 1985, it should be noted that there has also been a very large increase in the wealth of the country over the same period, as evidenced by the growth in the gross national product (GNP) or national income. While the nominal debt per capita has increased by less than two-thirds over the period, the GNP has almost exactly doubled. As a result, the debt burden has reduced in relative terms with the ratio of the national debt to GNP falling from 111 per cent in 1985 to about 90 per cent by the end of 1995. It is anticipated that continued strong economic growth in the coming years will see further progress in this area.