Government Debt

The General Government Debt (GGD) is the measure of the total debt of the State and is used for comparative purposes across the European Union. The National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other related assets and is the principal component of General Government Debt. General Government Debt also includes the debt of central and local government bodies as well as promissory notes issued to a number of financial institutions as a means of providing State support to these institutions. General Government Debt is reported on a gross basis and does not net off outstanding cash balances and other related assets– unlike the National Debt.

The General Government Debt was estimated at 108.2% of GDP at end 2011 by the Department of Finance*.

The National Debt was €129.6 billion at end April 2012.

* _{As published in Maastricht Returns, April 2012.}