Government deficit at 7.2% of GDP at end 2013

Monday 14 April 2014 12.43
Gross Government Debt stood at 123.7% of GDP at the end of December last
Gross Government Debt stood at 123.7% of GDP at the end of December last

Ireland's general Government deficit stood at 7.2% of GDP at the end of 2013.

The total figure of €11.78bn represented an improvement on the €13.44bn at the end of 2012, when the deficit stood at 8.2% of GDP.
 
Government revenue increased from €56.62bn in 2012 to €58.87bn in 2013. 

Expenditure increased from €69.84bn to €70.37bn over the same period. 

The increase in expenditure was accounted for by interest payments and current and capital transfer payments.

They were partially offset by reductions in expenditure on pay, purchase of goods and services and depreciation.

Taxes and social contributions formed by far the largest component of revenue over the period, representing just under 88% of total Government revenue in 2013. 

Social benefits accounted for just over 40% of Government spending in 2012 and 2013.
 
General Government Gross Debt at 123.7% of GDP in 2013.