General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO). It is the measure used for comparative purposes across the European Union.
The NTMA's responsibilities relate to National Debt. The NTMA uses two measures of National Debt. The first is Gross National Debt which is the debt incurred by the Exchequer before the deduction of cash and other financial assets. The second is Net National Debt which is the net debt incurred by the Exchequer after the deduction of cash and other financial assets.
Gross National Debt is the principal component of GGD. GGD also includes the debt of other central and local government bodies. GGD is reported on a gross basis and so does not net off cash and other assets. The CSO report that GGD at end-2022 stood at €224.8 billion. This is the equivalent of 44% of GDP or 82% of GNI*.
The CSO also produces a measure of General Government Net Debt which it calculates by subtracting from the Gross GGD figure the value of the financial assets corresponding to the categories of financial liabilities which comprise Gross GGD. The CSO report that at end-2022 General Government Net Debt stood at €188.1 billion. This is the equivalent of 37% of GDP or 69% of GNI*.