Statistician Ciaran Judge speaking at the launch of two new CSO releases earlier today
Two new statistical releases bring together for the first time ever the key data on government finances produced by the CSO. They show how the General Government Deficit (GGDeficit) and General Government Debt (GGDebt) relate to government revenue, expenditure and financing operations. They also present the first official calculation of both net GGDebt and the total net worth of general government.
Key results for the 2009-2012 period include:
• The General Government Deficit for Ireland was €12,461 million in 2012 (7.6% of GDP), showing a decrease from the 2009 level of €22,368 million (13.9% of GDP).
• General Government Debt rose over the same period from €104,544 million in 2009 (64.8% of GDP) to €192,461 million (117.6% of GDP) by end 2012.
• The net worth of General Government decreased from + €19,919 million in 2009 to -€77,283 million in 2012.
• Ireland’s General Government Deficit was lower and showed greater stability over the quarters of 2012 compared with the quarterly figures for 2009 to 2011. During 2012, the deficit values varied from 12.8% of GDP in Q1 to 2.9% in Q4 and overall the deficit levels were lower than in the earlier years.
For more information, please see the CSO website