Published on
Government deficit of 7.2 % of GDP in 2013 – well inside EDP Targets
2013 Figures as % of GDP
General Government Deficit – 7.2%
General Government Gross Debt – 123.7%
General Government Net Debt – 98.3%
The CSO today (14 April 2014) published the government finance statistics tables for 2013. The figures in this release comprise the first official publication by CSO of the annual Government Finance Statistics results for the year 2013 and outline the General Government Debt, Deficit and Net Debt.
The figures show that the General Government Deficit continues to fall and stood at 7.2% in 2013; inside the Excessive Deficit Procedure target of 7.5%.
Commenting on the statistics, Minister for Finance, Michael Noonan T.D. stated “Stable public finances are a necessary pre-condition for economic growth and job creation. 2013 is the third consecutive year that Ireland has performed ahead of target and, as outlined in the Medium Term Economic Strategy, the Government is committed to reducing the deficit to below 3% by 2015. Today’s statistics highlight the progress that has been made in restoring order to the public finances. These savings have been implemented in as growth-and-jobs-friendly-manner as possible and it is particularly encouraging that this progress coincides with job creation of 61,000 over the course of 2013.”
Further details:
General Government Debt, Deficit and Net Debt
GG Gross Debt GG Deficit GG Net Debt
End of year €m % GDP €m % GDP €m % GDP
2012 192,467 117.4 -13,444 -8.2 151,992 92.7
2013 202,920 123.7 -11,778 -7.2 161,217 98.3