Tuesday, 3 December 2019

Ceisteanna (133)

Pearse Doherty

Ceist:

133. Deputy Pearse Doherty asked the Minister for Finance the level of capital expenditure required for gross fixed capital formation to account for 3% of GDP in each of the years 2020 to 2025. [50102/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As the Deputy is aware the Department of Finance's macro-economic and fiscal projections currently cover the period to 2024. These set out that general government gross fixed capital formation will be c.2.5 per cent of GDP.

Using the more appropriate measure of the Irish economy, this is equivalent to an average of 4.4 per cent of modified GNI (GNI*).

The nominal amounts equivalent to 3 per cent of both GDP and GNI* are shown below.

€ millions

2020

2021

2022

2023

2024

3 per cent of GDP

10,540

10,955

11,420

11,895

12,375

3 per cent of GNI*

6,110

6,320

6,545

6,765

6,985

Questions Nos. 134 and 135 answered with Question No. 131.