Dáil Éireann Debate, Tuesday - 20 June 2017
279. Deputy Michael McGrath asked the Minister for Finance when his Department estimates that the State's debt to GDP ratio will reach 45%, 55% and 60% respectively based on the latest projections; and if he will make a statement on the matter. [27747/17]
Amharc ar fhreagraMy Department published a report on 6th June 2017 entitled the "Annual Report on Public Debt in Ireland". This Report, which will be published annually, is on the Department's website at the following link:
http://www.finance.gov.ie/sites/default/files/annual_debt_report_2017%20%28002%29_0.pdf.
As the Deputy is aware, the 2017 Stability Programme Update projected that the debt to GDP ratio will be 62.9 per cent in 2021. As illustrated in Figure 13 on page 19 of the Report, assuming the key inputs such as primary balance, interest and nominal growth rate remain unchanged from those in the 2017 Stability Programme update, it is projected that the debt to GDP ratio of 60 per cent would be achieved in 2022, 55 per cent in 2023/2024 and 45 per cent in 2026.
This projected timing does not factor in proceeds from the sale of banking assets, which will be used to lower debt and thus could bring forward the achievement of the above ratios that the Deputy has queried.
