Irish Economy: The CSO today published the government finance statistics tables for 2013 and the figures show that the General Government Deficit continues to fall and stood at 7.2% in 2013 - - an improvement on the 2012 position of €13.44bn (8.2% of GDP).
Government revenue increased from €56.62bn in 2012 to €58.87bn in 2013 while
expenditure increased from €69.84bn to €70.37bn over the same period. The
increase in expenditure was mainly in relation to interest payments and current
and capital transfer payments, partially offset by reductions in expenditure on
pay, purchase of goods and services and consumption of fixed capital
General Government Gross Debt at 123.7% of GDP in 2013
The gross debt of General Government stood at €202.92bn at the end of
2013 - - up from €192.48bn at the end of 2012. The corresponding
percentages of GDP were 123.7 % and 117.4%, respectively.
General Government Net Debt for 2013 amounted to €161.22bn or 98.3% of
GDP. This net debt figure is obtained by deducting the value of the financial
assets corresponding to those categories of financial liabilities which comprise
General Government Debt from the gross debt figure.
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