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General Government Debt

Dáil Éireann Debate, Thursday - 26 April 2012

Thursday, 26 April 2012

Ceisteanna (59)

Michael McGrath

Ceist:

59 Deputy Michael McGrath asked the Minister for Finance the composition of the general Government debt at the end of 2011; and if he will make a statement on the matter. [21059/12]

Amharc ar fhreagra

Freagraí scríofa

The first estimate for end 2011 General Government debt was transmitted by the Department of Finance and the Central Statistics Office to Eurostat on 31st March as part of the Maastricht Returns. Following the usual clarification process, the return was published by my Department and Eurostat on Monday 23rd March. The CSO compiles quarterly estimates of General Government Debt one quarter in arrears. General Government Debt at end 2011 is reported as €169 billion, or 108% of GDP. Of this €137 billion is Gross National Debt and €28 billion is debt outstanding on the IBRC promissory note.

€ billion

Government bonds

85.3

State savings (retail debt)1

14.0

Promissory note obligation

28.3

Programme assistance

35.7

Local Authorities and HFA debt

1.5

Short-term debt

2.9

Other2

1.05

1State savings are defined on page 10 of the NTMA Annual Report 2010

2“Other” includes other loans, swaps and related collaterals, coinage, the debt of the non-commercial semi-state sector and small savings accruals.

This is the latest official estimate of General Government Debt. The estimate is based on the latest available data from the NTMA, the CSO and within the Department.

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