Pulse Survey now running Five years on, we're measuring the lasting impact of COVID-19 on our lives in our latest short Pulse Survey. CSO Pulse Surveys are anonymous and open to all. #CSOTakePart
Before the introduction of the Macroeconomic Imbalance Procedure (MIP), the EU monitored economic developments within the economies of member states through the Stability and Growth Pact (SGP). This framework now operates in tandem with the MIP and sets thresholds on both budget deficits (3% of GDP) and public debt levels (60% of GDP). The Excessive Deficit Procedure (EDP) is the 'corrective arm' of the SGP which aims to correct breaches in the thresholds through the pursuance of sound public finances and fiscal policies.
| General Government Debt (% of GDP) | Pact Threshold | |
| 2006 | 23.6097353782776 | 60 |
| 2007 | 23.8972862353017 | 60 |
| 2008 | 42.4135108186503 | 60 |
| 2009 | 61.8607072391433 | 60 |
| 2010 | 86.2993041661459 | 60 |
| 2011 | 109.623222000481 | 60 |
| 2012 | 119.494313082091 | 60 |
| 2013 | 119.471017069395 | 60 |
| 2014 | 105.249420969289 | 60 |
| 2015 | 78.6247203613191 | 60 |
Source publication: Government Finance Statistics, Annual
Get the data: StatBank GFQ13
This indicator has been part of the SGP which was introduced in 1993 and is the same indicator as Headline Indicator 9 from the MIP Scoreboard, with the same threshold. Ireland has surpassed the 60 percent threshold of the Stability and Growth Pact for gross government debt as a percentage of GDP since 2009, although this ratio has declined in value since 2013.
| Annual Gross Debt (% of GDP) | Annual Net Debt (% of GDP) | Pact Threshold | |
| 2006 | 23.6097353782776 | 14.3073210614693 | 60 |
| 2007 | 23.8972862353017 | 14.1832144413966 | 60 |
| 2008 | 42.4135108186503 | 22.4503239276597 | 60 |
| 2009 | 61.8607072391433 | 36.6774444340311 | 60 |
| 2010 | 86.2993041661459 | 66.2635232265976 | 60 |
| 2011 | 109.623222000481 | 77.7469044835968 | 60 |
| 2012 | 119.494313082091 | 86.0899219511147 | 60 |
| 2013 | 119.471017069395 | 89.1943040725231 | 60 |
| 2014 | 105.249420969289 | 86.205367618204 | 60 |
| 2015 | 78.6247203613191 | 67.0530526740941 | 60 |
Source publication: Government Finance Statistics, Annual
Get the data: StatBank GFA01
Net government debt is gross government debt minus the value of the financial assets corresponding to the categories of financial liabilities which comprise gross government debt. The gap between gross and net debt peaked in 2012 at 33.4% of GDP but has declined steadily since then to stand at 11.6% of GDP at end-2015.
| Annual General Government Surplus / Deficit (% of GDP) (LHS) | Pact Threshold (LHS) | Annual Expenditure (RHS) | Annual Revenue (RHS) | |
| 2006 | 2.80894696889827 | -3 | 62.6098201848982 | 67.8080780346667 |
| 2007 | 0.272821419556237 | -3 | 70.7274764809152 | 71.2657352107544 |
| 2008 | -6.97905207338751 | -3 | 78.499070985687 | 65.4002822590598 |
| 2009 | -13.8132028532481 | -3 | 79.9516190586643 | 56.5100132744967 |
| 2010 | -32.1181468550083 | -3 | 109.083946048212 | 55.4067244170496 |
| 2011 | -12.6202280666972 | -3 | 79.5574468471059 | 57.7155918392531 |
| 2012 | -7.97320646893164 | -3 | 73.505844984163 | 59.4926454529849 |
| 2013 | -5.65637725381284 | -3 | 71.7152055690467 | 61.5218892409908 |
| 2014 | -3.72569958891663 | -3 | 72.9996337680798 | 65.80308758268 |
| 2015 | -1.87088409765823 | -3 | 75.3196943911506 | 70.5336906549807 |
Source publication: Government Finance Statistics - Annual
Get the data: StatBank GFA01, StatBank N1505
Ireland ran a general government surplus from 2006 to 2007. From 2008 to 2014, Ireland consistently exceeded the 3% of GDP threshold for government deficits set out in the Stability and Growth Pact. These deficits increased until 2010 due to several factors. They were partly caused by declining revenue, which steadily fell until 2010. A significant cause of the fall in revenue was due to a sharp decline in the property development sector. Expenditure also increased until 2010. A major component of these increases was exceptional capital support for domestic financial institutions in 2009 and particularly in 2010. General government deficits fell after this point with increases in overall revenue and falls in expenditure. In 2015 the General government deficit stood at 1.9% of GDP, falling within the Stability and Growth Pact threshold for the first time since 2007.
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.