Tuesday, 18 June 2019

Ceisteanna (141)

Michael McGrath

Ceist:

141. Deputy Michael McGrath asked the Minister for Finance the forecasted general government debt from 2019 to 2023, broken down by component parts, including the component parts that make up the gross national debt, the national debt and other general government debt components that make up the ultimate General Government Debt; and if he will make a statement on the matter. [25204/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office. It is the measure used for comparative purposes across the European Union Member States.

National Debt is the net debt incurred by the Exchequer after taking account of cash and other financial assets. The national debt is the principal component of general government debt. The latter measure also includes extra-budgetary funds, non-commercial state-sponsored bodies and the debt of local authorities.

The developments in the General Government Debt forecast for the years 2019 to 2023, broken down into available components, were published in Table A5 of the Stability Programme Update 2019. The table is reproduced below for the Deputy's convenience.

€ billions, unless stated

2019

2020

2021

2022

2023

Opening general government debt

206.2

205.1

196.7

203.6

203.5

Exchequer borrowing requirement

2.1

-0.4

-0.6

0.2

-0.6

Change in Exchequer Deposits

-2.5

-8.3

5.1

-1.2

1.3

Net lending of NCSSBs*

-0.2

0.2

0.2

0.2

0.3

Net lending of local government

0.2

0.2

-0.1

-0.2

-0.3

Change in collateral held

0

0

0

0

0

Other

-0.7

-0.1

2.3

0.8

1.8

Closing general government debt

205.1

196.7

203.6

203.5

206.0

General government debt to GDP ratio

61.1

55.8

55.4

53.2

51.6

*NCSSBs = Non-commercial semi-state bodies