General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO) and is the measure 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 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 does not net off outstanding cash balances and other related assets – unlike the National Debt. The CSO report that GGD at end-2021 stood at €236.1 billion. This is the equivalent of 55% of GDP or 101% of GNI*.
The CSO produces a measure of General Government Net Debt by subtracting from the General Government Gross Debt figure the value of the financial assets corresponding to the categories of financial liabilities which comprise General Government Gross Debt. The CSO report that at end-2021 General Government Net Debt stood at €192.3 billion. This is the equivalent of 45% of GDP or 82% of GNI*.