Dáil Éireann Debate, Tuesday - 24 July 2018
334. Deputy Joan Burton asked the Minister for Finance the gross and net general Government debt for 2017 by cash amount in tabular form; the projected end of year amounts for 2018 and 2019; the details of the Exchequer cash and other assets, the ISIF cash and non-equity investments and other cash and assets held by source; the amounts as a percentage of GDP and GNI in tabular form; and if he will make a statement on the matter. [34866/18]
Amharc ar fhreagraMy Department does not publish GNI forecasts; it does, however, publish forecasts for nominal GDP and GNI*. Gross and net debt as a fraction of each of these variables are set out in the tables. The GDP and GNI* figures for 2018 and 2019 are based on my Department's projected growth rates for these variables (as set out in the Stability Programme Update 2018) applied to the new 2017 base (as published by the CSO last week).
The exchequer cash and other assets, Ireland Strategic Investment Fund (ISIF) cash and non-equity investments and other cash and assets held by general government are combined as EDP debt instrument assets below as the level of granularity of each is unavailable for forecasts.
|
- |
2017 |
2018 |
2019 |
|
Gross General Government Debt (millions) |
€201,294 |
€206,304 |
€209,444 |
|
Gross General Government Debt % of GDP |
68.4% |
66.0% |
63.5% |
|
Gross General Government Debt % of GNI* |
111.1% |
107.5% |
103.9% |
|
Net General Government Debt (millions) |
€174,027 |
€176,899 |
€180,504 |
|
Net General Government Debt % of GDP |
59.2% |
56.6% |
54.8% |
|
Net General Government Debt % of GNI* |
96.1% |
92.2% |
89.6% |
|
EDP debt instrument assets (millions) |
€26,927 |
€29,405 |
€28,940 |
|
EDP debt instrument assets % of GDP |
9.2% |
9.4% |
8.8% |
|
EDP debt instrument assets % of GNI* |
14.9% |
15.3% |
14.4% |
We have one of the highest debt per capita ratios in the developed world and there is a general recognition that sovereign borrowing costs have bottomed out. The Government is committed to prudent budgetary policy that reduces debt and supports sustainable and steady improvements in our living standards.
