| General Government | ||||||
| GG Deficit | GG Gross Debt | GG Net Debt | ||||
| Year | €bn | % GDP | €bn | % GDP | €bn | % GDP |
| 2014 | -7.0 | -3.6 | 203.4 | 104.1 | 168.4 | 86.2 |
| 2015 | -5.0 | -1.9 | 201.6 | 76.8 | 173.8 | 66.2 |
| 2016 | -1.5 | -0.5 | 200.7 | 73.4 | 177.1 | 64.8 |
| 2017 | -0.7 | -0.2 | 201.3 | 68.4 | 175.6 | 59.7 |
Provisional data for 2017 shows a government deficit of €0.7 billion (-0.2% of GDP, -0.4% of GNI*). This is an improvement on the 2016 deficit of €1.5 billion (-0.5% of GDP, -0.8% of GNI*). 2017 saw increases in both government revenue (+3.9%) and expenditure (+2.9%) (Table 1).
Government debt falls to 68.4% of GDP in 2017
Provisional data for nominal general government gross debt (GG Debt) stood at €201.3 billion at the end of 2017 (68.4% of GDP, 111.1% of GNI*) compared with the 2016 figure of €200.7 billion (73.4% of GDP, 114.1% of GNI*).
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These annual results are provisional as the data is still under review as part of the Excessive Deficit Procedure (EDP) clarification process with Eurostat. This process is due to be completed by 17 October 2018. It is envisaged that the detailed release and tables will be published by the CSO no later than 19 October 2018. The CSO Statbank is not updated with this provisional data. It will be updated when the detailed release and tables are published. The changes to the previously published tables under the EDP in April 2018 reflect updated data sources. The main EDP notification tables for Ireland, details of government guarantees, PPPs and concessions and tables showing the impact of government interventions in the financial sector on government accounts will be published on 22 October, the same day as the Eurostat's EDP statistics release. National accounts are compiled in the EU according to the European System of National Accounts 2010 (ESA2010) framework. Modified Gross National Income (GNI*) is equal to Gross National Income at current market prices less the factor income of redomiciled companies, less depreciation on research and development related intellectual property imports and less depreciation on aircraft related to aircraft leasing. |
| Table 1 General Government transactions: revenue, expenditure and deficit | ||||||||
| €million | ||||||||
| Description | ESA2010 code | 2014 | 2015 | 2016 | 2017 | |||
| General Government transactions | ||||||||
| Revenue | TR | 65,974 | 70,901 | 73,655 | 76,540 | |||
| Taxes and social contributions | D2 + D5 + D91 + D61 | 57,443 | 62,232 | 65,139 | 68,568 | |||
| Taxes | D2 + D5 + D91 | 46,460 | 50,844 | 53,097 | 55,927 | |||
| Social contributions | D61 | 10,983 | 11,388 | 12,042 | 12,641 | |||
| Sales of goods and services | P1O | 4,826 | 5,350 | 5,446 | 5,525 | |||
| Investment income | D4 | 3,071 | 2,714 | 1,826 | 1,772 | |||
| Current transfer revenue (excluding taxes) | D7 | 266 | 294 | 244 | 247 | |||
| Capital transfer revenue (excluding taxes) | D9N | 368 | 310 | 999 | 428 | |||
| Expenditure | TE | 73,019 | 75,915 | 75,121 | 77,269 | |||
| Expense | Expense | 72,043 | 74,649 | 73,511 | 75,901 | |||
| Compensation of employees | D1 | 18,366 | 18,952 | 19,442 | 20,681 | |||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 8,937 | 9,243 | 9,525 | 9,865 | |||
| Depreciation (Consumption of fixed capital) | P51c | 3,317 | 3,515 | 3,722 | 3,947 | |||
| Interest (excluding FISIM) | D41 | 7,589 | 6,849 | 6,165 | 5,806 | |||
| Subsidies | D3 | 1,867 | 1,792 | 1,777 | 1,823 | |||
| Social benefits | D62 + D632 | 28,076 | 28,423 | 28,437 | 29,006 | |||
| Other current transfers | D7 | 2,759 | 2,528 | 3,005 | 3,172 | |||
| Capital transfers | D9 | 1,132 | 3,348 | 1,438 | 1,603 | |||
| Net operating balance | NOB | -6,069 | -3,748 | 144 | 639 | |||
| Net acquisition of non-financial assets | P5 + NP - P51c | 976 | 1,266 | 1,610 | 1,368 | |||
| General Government Surplus/Deficit | B9 | -7,045 | -5,014 | -1,466 | -730 | |||
| General Government Surplus/Deficit (% of GDP) | -3.6 | -1.9 | -0.5 | -0.2 | ||||
| General Government Surplus/Deficit (% of GNI*) | -4.7 | -3.1 | -0.8 | -0.4 | ||||
| GDP at current market prices | 195,293 | 262,466 | 273,238 | 294,110 | ||||
| GNI* | 148,628 | 161,382 | 175,827 | 181,182 | ||||
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Show Table 1 General Government Transactions: Revenue, Expenditure, Financing and Deficit
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