Dáil Éireann Debate, Wednesday - 26 July 2017
142. Deputy Brendan Howlin asked the Minister for Finance the cost of interest repayments on the national debt for each of the years from 2012 and to date in 2017, in monetary terms, as a percentage of GDP, as a percentage of GNI and as a percentage of both voted and non-voted expenditure, in tabular form; and if he will make a statement on the matter. [36012/17]
Amharc ar fhreagraGeneral Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO) and is the measure used for comparative purposes across the European Union.
National Debt is effectively a domestic measure as it is the net debt incurred by the Exchequer after taking account of cash balances and other financial assets.
Gross National Debt is the principal component of GGD. The most recent estimates of interest on National Debt for the years 2012-2016 are available on the NTMA’s website while the most recent figure for interest on National Debt for 2017 was published in the 2017 Stability Programme Update (Table A3, page 51) and is reproduced for the Deputy’s convenience as follows.
|
- |
Interest on National Debt (€ billions) |
Interest on National Debt (as a % of GDP) |
Interest on National Debt (as a % of GNI) |
Interest on National Debt (as a % of voted expenditure) |
Interest on National Debt (as a % non-voted expenditure) |
|
2012 |
5.7 |
3.2 |
4.0 |
10.4 |
48.6 |
|
2013 |
7.3 |
4.1 |
4.8 |
13.7 |
55.8 |
|
2014 |
7.5 |
3.8 |
4.5 |
14.1 |
45.6 |
|
2015 |
7.0 |
2.7 |
3.4 |
12.8 |
44.2 |
|
2016 |
6.7 |
2.4 |
3.0 |
12.0 |
55.8 |
|
2017 |
6.2 |
2.1* |
2.7* |
10.7 |
59.0 |
Source: CSO, NTMA, Department of Finance
*The 2017 figures for GDP and GNI apply the Summer Economic Statement nominal growth rate forecasts to the revised level of GDP and GNI published in the 2016 National Income and Expenditure Results.
