| General Government and GDP | |||||||
| GG Balance | GG Gross Debt | GG Net Debt | GDP | ||||
| End of year | €bn | % GDP | €bn | % GDP | €bn | % GDP | €bn |
| 2013 | -11.09 | -6.17 | 215.3 | 119.7 | 162.1 | 90.1 | 179.9 |
| 2014 | -7.12 | -3.64 | 203.4 | 104.1 | 168.0 | 86.0 | 195.3 |
| 2015 | -5.09 | -1.94 | 201.6 | 76.8 | 173.3 | 66.0 | 262.5 |
| 2016 | -1.81 | -0.66 | 200.7 | 73.5 | 177.1 | 64.8 | 273.2 |
| 2017 | -0.83 | -0.28 | 201.4 | 68.5 | 175.8 | 59.8 | 294.1 |
| 2018 | 0.05 | 0.01 | 206.2 | 64.8 | 177.6 | 55.8 | 318.5 |
For 2018 the government surplus was €0.05 billion (0.01% of GDP), an improvement on the 2017 deficit of €0.83 billion (-0.3% of GDP). This is the first surplus since 2007.
2018 saw increases in both government revenues (+7.2%) and expenditures (+6.0%) (Table 1). At the end of 2018 government revenues were €82.0 billion. The upward trend in tax and social contribution revenue continued with increases of €4.7 billion (+8.4%) in Taxes and €0.7 billion (+5.8%) in Social contributions (Tables 1 and 3).
The main drivers behind the increase in government expenditure in 2018 to €82.0 billion were Compensation of employees/Pay (+7.5%), Social benefits (+2.5%) and Gross fixed capital formation (+21.7%). Debt service costs, or Interest, continued to decrease in 2018 (-9.9%) (Tables 1 and 4).
Around €365m was spent on interventions to support financial institutions with associated interest costs partly offset by dividends and income. Investment income fell over the period 2014-2018 as the State reduced its holdings in financial institutions (Table 1).
Government debt falls to 64.8% of GDP in 2018
The general government gross debt (GG Debt) stood at €206.2 billion at the end of 2018 (64.8% of GDP), up from the 2017 figure of €201.4 billion (68.5% of GDP). However, the increase in GDP in 2018 was the primary driver in the decrease of the debt to GDP ratio as the nominal debt level increased by €4.8 billion in the period (Table 2).
On the assets side of the State’s balance-sheet, financial assets rose by €13.2 billion during 2018. This increase was principally caused by a €15.7 billion rise in Other accounts receivable, with a lesser rise of €4.3 billion in Currency and deposits which was mostly caused by the issuance of new debt in the year. These rises in asset values were offset mainly by a fall of €5.6 billion in Equity and Investment Fund Shares. This drop was mostly as a result of a loss in value of the State’s investment in Irish banks. On the liability side of the balance-sheet, Total liabilities at market value grew by €15.9 billion, largely caused by an increase in Other accounts payable of €14.8 billion in the year to end-2018 (Table 6).
At the end of 2018 general government net debt increased by €1.7 billion to €177.6 billion (55.8% of GDP). GG Debt increased by €4.8 billion, composed of rises in Debt Securities (€4.1 billion) and Loans (€0.7 billion) (Tables 2 and 7).
|
Government accounts are compiled in the EU according to the European System of National Accounts 2010 (ESA2010) framework. This release contains annual Government Finance Statistics (GFS) and are aligned with the April 2019 Excessive Deficit Procedure (EDP) notification. This release contains the first look at annual 2018 GFS. Any revisions to previous years reflect updated data sources or changes in methodology - see Background notes. Tables included in the release show a reconciliation of the Exchequer Balance to the General Government Deficit (Table 8). The main EDP notification tables for Ireland, details of government guarantees, PPPs and concessions and tables showing the impact of government interventions in the financial sector on government accounts will be published on 23 April, the same day as the Eurostat release of EDP statistics. As annual GFS are benchmarked to the most recent EDP notification, they may not always be fully aligned with the National Income and Expenditure and related publications such as the Institutional Sector Accounts. A full description of the concepts and definitions used in the production of these statistics is provided in the Background notes. Note that GNI* for 2018 is not available until mid-2019, hence no 2018 GNI* comparisions are shown in this release. However, Table 1 shows GNI* for the years 2013-2017. |
| Total Revenue | Total Expenditure | |
| 2013 | 34.1886638907809 | 40.3545728023129 |
| 2014 | 33.8092707746406 | 37.4540520837894 |
| 2015 | 27.0182855820662 | 28.9559132711515 |
| 2016 | 26.915966877432 | 27.578106491297 |
| 2017 | 26.0220082418274 | 26.3040823396821 |
| 2018 | 25.7579240566948 | 25.7434910861209 |
| Table 1 General Government transactions: revenue, expenditure, financing and deficit | ||||||||||
| €million | ||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||
| General Government transactions | ||||||||||
| Revenue | TR | 61,513 | 66,027 | 70,914 | 73,545 | 76,533 | 82,029 | |||
| Taxes and social contributions | D2 + D5 + D91 + D61 | 52,938 | 57,455 | 62,243 | 65,047 | 68,565 | 73,989 | |||
| Taxes | D2 + D5 + D91 | 42,516 | 46,459 | 50,843 | 52,993 | 55,912 | 60,597 | |||
| Social contributions | D61 | 10,421 | 10,996 | 11,400 | 12,054 | 12,653 | 13,392 | |||
| Sales of goods and services | P1O | 4,868 | 4,829 | 5,352 | 5,433 | 5,526 | 5,851 | |||
| Investment income | D4 | 3,272 | 3,071 | 2,714 | 1,821 | 1,768 | 1,294 | |||
| Current transfer revenue (excluding taxes) | D7 | 150 | 266 | 294 | 244 | 247 | 342 | |||
| Capital transfer revenue (excluding taxes) | D9N | 286 | 406 | 310 | 999 | 428 | 553 | |||
| Expenditure | TE | 72,607 | 73,145 | 75,999 | 75,354 | 77,363 | 81,983 | |||
| Expense | Expense | 72,076 | 72,123 | 74,731 | 73,744 | 75,994 | 79,346 | |||
| Compensation of employees | D1 | 18,594 | 18,366 | 18,952 | 19,442 | 20,681 | 22,228 | |||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 8,196 | 8,937 | 9,243 | 9,525 | 9,873 | 10,864 | |||
| Depreciation (Consumption of fixed capital) | P51c | 3,166 | 3,317 | 3,515 | 3,722 | 3,947 | 3,947 | |||
| Interest (excluding FISIM) | D41 | 7,760 | 7,589 | 6,850 | 6,166 | 5,803 | 5,231 | |||
| Subsidies | D3 | 1,909 | 1,867 | 1,790 | 1,774 | 1,823 | 1,685 | |||
| Social benefits | D62 + D632 | 28,603 | 28,155 | 28,504 | 28,522 | 29,085 | 29,822 | |||
| Other current transfers | D7 | 2,915 | 2,759 | 2,528 | 3,005 | 3,170 | 3,705 | |||
| Capital transfers | D9 | 933 | 1,132 | 3,350 | 1,587 | 1,613 | 1,864 | |||
| Net operating balance | NOB | -10,563 | -6,095 | -3,818 | -199 | 539 | 2,683 | |||
| Net acquisition of non-financial assets | P5 + NP - P51c | 531 | 1,023 | 1,268 | 1,610 | 1,369 | 2,637 | |||
| General Government Surplus/Deficit | B9 | -11,094 | -7,118 | -5,086 | -1,809 | -830 | 46 | |||
| equals | ||||||||||
| Net acquisition of financial assets | ΔFA | -6,036 | -18,902 | -8,753 | -4,587 | -1,857 | 17,012 | |||
| Debt instruments | F2 + F3 + F4 | -4,158 | -19,666 | -7,016 | -4,872 | 1,948 | 2,714 | |||
| Equity and Investment Fund Shares | F5 | -1,307 | -87 | 242 | -379 | -4,491 | -1,235 | |||
| Other financial assets | F6 + F7 + F8 | -571 | 851 | -1,979 | 664 | 686 | 15,533 | |||
| less | ||||||||||
| Net incurrence of liabilities | ΔL | 5,058 | -11,784 | -3,667 | -2,778 | -1,027 | 16,966 | |||
| Debt instruments | F2 + F3 + F4 | 5,210 | -12,559 | -3,964 | -2,472 | -1,139 | 2,168 | |||
| Other liabilities | F5 + F6 + F7 + F8 | -152 | 775 | 297 | -306 | 112 | 14,798 | |||
| Memo: Net derivative flows on debt interest swap contracts | -274 | -264 | -240 | -275 | -223 | -200 | ||||
| General Government Surplus/Deficit (% of GDP) | -6.2 | -3.6 | -1.9 | -0.7 | -0.3 | 0.0 | ||||
| General Government Surplus/Deficit (% of GNI*) | -8.1 | -4.8 | -3.2 | -1.0 | -0.5 | " | ||||
| GDP at current market prices | 179,922 | 195,293 | 262,466 | 273,238 | 294,110 | 318,460 | ||||
| GNI* | 136,906 | 148,628 | 161,382 | 175,827 | 181,182 | " | ||||
| Government interventions to support financial institutions | ||||||||||
| Revenue (a+b+c+d) | 2,809 | 2,295 | 2,174 | 1,715 | 1,297 | 1,121 | ||||
| Guarantee fees receivable (a) | P131(part) | 420 | 155 | 53 | 45 | 5 | 0 | |||
| Interest receivable (b) | D4(part) | 1,090 | 712 | 505 | 135 | 49 | 71 | |||
| Dividends receivable (c) | D4(part) | 760 | 761 | 962 | 749 | 558 | 382 | |||
| Other (d) | P131(part) | 539 | 668 | 653 | 785 | 685 | 668 | |||
| Expenditure (e+f+g+h) | 2,370 | 2,281 | 4,008 | 1,732 | 1,614 | 1,487 | ||||
| Interest payable (e) | D4(part) | 1,864 | 1,528 | 1,211 | 1,050 | 895 | 771 | |||
| Capital injections recorded as deficit-increasing (capital transfer)(f) | D9(part) | 0 | 0 | 2,111 | 0 | 0 | 0 | |||
| Calls on guarantees (g) | D9(part) | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Other (h) | various | 506 | 753 | 686 | 682 | 720 | 716 | |||
| Impact of the above interventions on General Government Surplus/Deficit | 439 | 15 | -1,834 | -17 | -317 | -365 | ||||
| General Government Surplus/Deficit excluding interventions to support financial institutions | -11,532 | -7,133 | -3,252 | -1,792 | -513 | 411 | ||||
| " Data currently not available | ||||||||||
| Table 2 General Government Net Worth, Gross and Net Debt | ||||||||||||
| €million | ||||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||
| General Government net worth | ||||||||||||
| Net worth at market value, excluding pension liabilities | NW | -56,575 | -61,583 | -52,587 | -47,691 | -37,292 | -37,385 | |||||
| equals | ||||||||||||
| Non-financial assets at market value | NFA | 88,167 | 93,046 | 98,247 | 104,598 | 111,424 | 114,060 | |||||
| plus | ||||||||||||
| Financial net worth at market value, excluding pension liabilities | FNW | -144,742 | -154,629 | -150,834 | -152,289 | -148,716 | -151,445 | |||||
| equals | ||||||||||||
| Financial assets at market value | FA | 93,203 | 82,537 | 82,682 | 78,753 | 79,167 | 92,370 | |||||
| EDP debt instruments | F2 + F3 + F4 | 53,270 | 35,414 | 28,354 | 23,657 | 25,523 | 28,646 | |||||
| Equity and Investment Fund Shares | F5 | 30,749 | 37,879 | 44,899 | 45,557 | 42,606 | 37,011 | |||||
| Other financial assets | F6 + F7 + F8 | 9,184 | 9,244 | 9,429 | 9,539 | 11,038 | 26,713 | |||||
| less | ||||||||||||
| Liabilities at market value | L | 237,945 | 237,166 | 233,516 | 231,042 | 227,883 | 243,815 | |||||
| EDP debt instruments | F2 + F3 + F4 | 228,902 | 227,822 | 223,194 | 221,125 | 218,340 | 219,621 | |||||
| Other liabilities | F5 + F6 + F7 + F8 | 9,043 | 9,344 | 10,322 | 9,917 | 9,543 | 24,194 | |||||
| Memo: Estimated pension liabilities of government | 98,000 | 109,800 | 114,500 | 114,500 | 114,500 | 114,500 | ||||||
| Memo: Net worth, including pension liabilities | -154,575 | -171,383 | -167,087 | -162,191 | -151,792 | -151,885 | ||||||
| Contingent liabilities | 59,522 | 29,412 | 15,955 | 9,006 | 5,315 | 5,054 | ||||||
| Memo: Net worth, including pension liabilities and contingent liabilities | -214,097 | -200,795 | -183,042 | -171,197 | -157,107 | -156,939 | ||||||
| General Government: changes in net worth | ||||||||||||
| Opening net worth | -52,191 | -56,575 | -61,583 | -52,587 | -47,691 | -37,292 | ||||||
| Change in net worth due to transactions | -10,563 | -6,095 | -3,818 | -199 | 539 | 2,683 | ||||||
| Net acquisition of non-financial assets | P5 + NP - P51c | 531 | 1,023 | 1,268 | 1,610 | 1,369 | 2,637 | |||||
| Net lending/net borrowing | B9 | -11,094 | -7,118 | -5,086 | -1,809 | -830 | 46 | |||||
| Change in net worth due to other economic flows | Kx | 6,179 | 1,087 | 12,814 | 5,094 | 9,860 | -2,775 | |||||
| Other changes in non-financial assets | 2,249 | 3,856 | 3,933 | 4,740 | 5,457 | 0 | ||||||
| Other changes in financial assets | 7,360 | 8,236 | 8,898 | 658 | 2,271 | -3,809 | ||||||
| Other changes in liabilities | -3,430 | -11,005 | -17 | -304 | 2,132 | 1,034 | ||||||
| Closing net worth | -56,575 | -61,583 | -52,587 | -47,691 | -37,292 | -37,385 | ||||||
| General Government Debt (GGDebt) | ||||||||||||
| Debt instrument liabilities at market value | F2 + F3 + F4 | 228,902 | 227,822 | 223,194 | 221,125 | 218,340 | 219,621 | |||||
| + Difference between EDP face value and market value | -13,564 | -24,457 | -21,559 | -20,415 | -16,972 | -13,407 | ||||||
| Gross General Government Debt (EDP face value) | GGDebt | 215,338 | 203,365 | 201,635 | 200,710 | 201,368 | 206,214 | |||||
| less EDP debt instrument assets | F2 + F3 + F4 | -53,270 | -35,414 | -28,353 | -23,657 | -25,524 | -28,646 | |||||
| Net General Government Debt | GGNetDebt | 162,068 | 167,951 | 173,282 | 177,053 | 175,844 | 177,568 | |||||
| Closing Net Worth (% of GDP) | -31.4 | -31.5 | -20.0 | -17.5 | -12.7 | -11.7 | ||||||
| Gross General Government Debt (% of GDP) | 119.7 | 104.1 | 76.8 | 73.5 | 68.5 | 64.8 | ||||||
| Net General Government Debt (% of GDP) | 90.1 | 86.0 | 66.0 | 64.8 | 59.8 | 55.8 | ||||||
| Gross General Government Debt (% of GNI*) | 157.3 | 136.8 | 124.9 | 114.2 | 111.1 | " | ||||||
| Net General Government Debt (% of GNI*) | 118.4 | 113.0 | 107.4 | 100.7 | 97.1 | " | ||||||
| " Data currently not available | ||||||||||||
| Table 3 General Government: detailed classification of revenue and output | |||||||||||
| €million | |||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||
| Total Revenue | TR | 61,513 | 66,027 | 70,914 | 73,545 | 76,533 | 82,029 | ||||
| Taxes and social contributions | 52,938 | 57,455 | 62,243 | 65,047 | 68,565 | 73,989 | |||||
| Taxes | D2 + D5 + D91 | 42,516 | 46,459 | 50,843 | 52,993 | 55,912 | 60,597 | ||||
| Indirect taxes (taxes on production and imports) | D2 | 19,309 | 21,212 | 22,580 | 23,650 | 24,847 | 25,518 | ||||
| Taxes on products | D21 | 16,748 | 18,234 | 19,436 | 20,784 | 21,595 | 22,371 | ||||
| of which Value-Added Tax | D211 | 10,372 | 11,521 | 11,955 | 12,826 | 13,278 | 14,388 | ||||
| Other taxes on production | D29 | 2,562 | 2,978 | 3,144 | 2,866 | 3,252 | 3,147 | ||||
| Direct taxes | D5 | 22,929 | 24,889 | 27,863 | 28,932 | 30,616 | 34,561 | ||||
| Taxes on income, profits and capital gains | D51 | 21,298 | 23,016 | 26,599 | 27,893 | 29,601 | 33,575 | ||||
| Other current direct taxes | D59 | 1,630 | 1,873 | 1,263 | 1,039 | 1,016 | 986 | ||||
| Capital taxes | D91 | 278 | 359 | 401 | 411 | 448 | 518 | ||||
| Social contributions | D61 | 10,421 | 10,996 | 11,400 | 12,054 | 12,653 | 13,392 | ||||
| Actual social contributions | D611 + D613 | 9,019 | 9,610 | 10,218 | 10,717 | 11,439 | 12,264 | ||||
| PRSI receipts | D611 + D613(pt) | 7,310 | 7,960 | 8,524 | 9,238 | 9,836 | 10,643 | ||||
| Government employees' social contributions | D613(pt) | 1,709 | 1,649 | 1,694 | 1,479 | 1,603 | 1,621 | ||||
| Employers' imputed social contributions | D612 | 1,402 | 1,387 | 1,182 | 1,337 | 1,214 | 1,128 | ||||
| Sales of goods and services | P1O | 4,868 | 4,829 | 5,352 | 5,433 | 5,526 | 5,851 | ||||
| Sales of market establishments (= market output) | P11 | 991 | 1,039 | 1,117 | 1,221 | 1,326 | 1,432 | ||||
| Imputed sales related to production of own-use capital assets (= output for own final use) | P12 | 33 | 33 | 21 | 21 | 22 | 22 | ||||
| Incidental sales and fees of non-market establishments | P131 | 3,844 | 3,757 | 4,214 | 4,192 | 4,179 | 4,398 | ||||
| Investment income | D4 | 3,272 | 3,071 | 2,714 | 1,821 | 1,768 | 1,294 | ||||
| Interest (excluding FISIM) | D41 | 1,398 | 1,044 | 675 | 246 | 131 | 160 | ||||
| Dividends / Other investment income | D42 + D44 | 1,771 | 1,922 | 1,932 | 1,468 | 1,532 | 1,020 | ||||
| Rent of land and subsoil assets | D45 | 103 | 105 | 106 | 107 | 105 | 113 | ||||
| Current transfer revenue | D39 + D7 | 150 | 266 | 294 | 244 | 247 | 342 | ||||
| Subsidies | D39 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Other current transfers | D7 | 150 | 266 | 294 | 244 | 247 | 342 | ||||
| Non-life insurance claims | D72 | 9 | 7 | 8 | 18 | 18 | 18 | ||||
| Other Domestic - Current | D7N_S1 | 131 | 223 | 193 | 194 | 195 | 195 | ||||
| From Rest of World - Current | D7N_S2 | 11 | 36 | 93 | 32 | 34 | 129 | ||||
| Capital transfer revenue | D9N | 286 | 406 | 310 | 999 | 428 | 553 | ||||
| Output | P1 | 30,330 | 31,025 | 32,176 | 33,226 | 35,120 | 37,765 | ||||
| Market output (sales of market establishments) | P11 | 991 | 1,039 | 1,117 | 1,221 | 1,326 | 1,432 | ||||
| Output for own final use | P12 | 33 | 33 | 21 | 21 | 22 | 22 | ||||
| Non-market output | P13 | 29,306 | 29,953 | 31,039 | 31,985 | 33,772 | 36,311 | ||||
| = Non-market compensation of employees | D1_nonmarket | 18,561 | 18,333 | 18,931 | 19,421 | 20,659 | 22,207 | ||||
| = Total compensation of employees | D1 | 18,594 | 18,366 | 18,952 | 19,442 | 20,681 | 22,228 | ||||
| - Compensation of employees of market establishments | D1_market | ||||||||||
| - Compensation related to production of own-use capital assets | D1_own-use | -33 | -33 | -21 | -21 | -22 | -22 | ||||
| + Non-market intermediate consumption | P2_nonmarket | 7,976 | 8,718 | 9,018 | 9,278 | 9,621 | 10,612 | ||||
| = Total intermediate consumption | P2 | 8,196 | 8,937 | 9,243 | 9,525 | 9,873 | 10,864 | ||||
| - Intermediate consumption of market establishments | P2_market | -219 | -219 | -225 | -247 | -252 | -252 | ||||
| - Intermediate consumption related to production of own-use capital assets | P2_own-use | ||||||||||
| + Non-market consumption of fixed capital | P51c_nonmarket | 2,768 | 2,902 | 3,090 | 3,285 | 3,493 | 3,493 | ||||
| = Total consumption of fixed capital | P51c | 3,166 | 3,317 | 3,515 | 3,722 | 3,947 | 3,947 | ||||
| - Consumption of fixed capital by market establishments | P51c_market | -397 | -415 | -425 | -437 | -454 | -454 | ||||
| - Consumption of fixed capital related to production of own-use capital assets | P51c_own-use | ||||||||||
| + Other taxes on production, payable | D29_pay | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Other subsidies on production, receivable | D39_rec | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Table 4 General Government: detailed classification of expenditure and consumption | |||||||||||
| €million | |||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||
| Total Expenditure | TE | 72,607 | 73,145 | 75,999 | 75,354 | 77,363 | 81,983 | ||||
| Expense | 72,076 | 72,123 | 74,731 | 73,744 | 75,994 | 79,346 | |||||
| Compensation of employees | D1 | 18,594 | 18,366 | 18,952 | 19,442 | 20,681 | 22,228 | ||||
| Of which: Related to production of own-use capital assets | 33 | 33 | 21 | 21 | 22 | 22 | |||||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 8,196 | 8,937 | 9,243 | 9,525 | 9,873 | 10,864 | ||||
| Use of goods and services [Intermediate consumption] | P2 | 8,196 | 8,937 | 9,243 | 9,525 | 9,873 | 10,864 | ||||
| Of which: Intermediate consumption of market establishments | 219 | 219 | 225 | 247 | 252 | 252 | |||||
| Taxes, payable | D5 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Depreciation (Consumption of fixed capital) | P51c | 3,166 | 3,317 | 3,515 | 3,722 | 3,947 | 3,947 | ||||
| Of which: Depreciation by market establishments | 397 | 415 | 425 | 437 | 454 | 454 | |||||
| Interest (excluding FISIM) | D41 | 7,760 | 7,589 | 6,850 | 6,166 | 5,803 | 5,231 | ||||
| Other domestic interest payable | D41_S1 | 3,122 | 2,899 | 2,453 | 2,258 | 2,106 | 1,836 | ||||
| Interest payable to rest of world | D41_S2 | 4,638 | 4,690 | 4,397 | 3,908 | 3,698 | 3,395 | ||||
| Subsidies | D3 | 1,909 | 1,867 | 1,790 | 1,774 | 1,823 | 1,685 | ||||
| Product subsidies | D31 | 1,071 | 957 | 864 | 909 | 930 | 932 | ||||
| Other subsidies on production | D39 | 838 | 910 | 926 | 865 | 893 | 753 | ||||
| Social benefits | D62 + D632 | 28,603 | 28,155 | 28,504 | 28,522 | 29,085 | 29,822 | ||||
| Social benefits in cash | D62 | 23,618 | 23,053 | 23,092 | 22,826 | 23,029 | 23,370 | ||||
| Social benefits in kind (via market producers) | D632 | 4,986 | 5,102 | 5,412 | 5,696 | 6,056 | 6,452 | ||||
| Other current transfers | D7 | 2,915 | 2,759 | 2,528 | 3,005 | 3,170 | 3,705 | ||||
| Net non-life insurance premiums | D71 | 58 | 74 | 55 | 105 | 107 | 107 | ||||
| Current international cooperation | D74 | 530 | 434 | 473 | 438 | 503 | 531 | ||||
| Miscellaneous current transfers | D75 | 764 | 768 | 493 | 611 | 829 | 693 | ||||
| VAT and GNI based EU budget contribution | D76 | 1,564 | 1,483 | 1,507 | 1,851 | 1,731 | 2,374 | ||||
| VAT-based EU own resources | D761 | 202 | 203 | 215 | 219 | 262 | 245 | ||||
| GNI-based EU own resources | D762 | 1,361 | 1,280 | 1,292 | 1,632 | 1,470 | 2,129 | ||||
| Capital transfers | D9 | 933 | 1,132 | 3,350 | 1,587 | 1,613 | 1,864 | ||||
| Investment grants | D92 | 895 | 939 | 1,239 | 1,587 | 1,583 | 1,651 | ||||
| Other capital transfers | D99 | 38 | 193 | 2,111 | 0 | 30 | 213 | ||||
| Net acquisition of non-financial assets | P5 + NP - P51c | 531 | 1,023 | 1,268 | 1,610 | 1,369 | 2,637 | ||||
| = Gross investment in non-financial assets | P5 + NP | 3,696 | 4,339 | 4,783 | 5,333 | 5,315 | 6,584 | ||||
| Gross fixed capital formation | P51 | 3,613 | 4,279 | 4,723 | 5,273 | 5,360 | 6,524 | ||||
| Net acquisition of stocks | P52 | 83 | 60 | 60 | 60 | 60 | 60 | ||||
| Net acquisition of unproduced assets | NP | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Consumption of fixed capital | P51c | -3,166 | -3,317 | -3,515 | -3,722 | -3,947 | -3,947 | ||||
| Net expenditure on current goods and services | P3 excl. D632 | 25,462 | 26,196 | 26,824 | 27,793 | 29,594 | 31,914 | ||||
| = Output | P1 | 30,330 | 31,025 | 32,176 | 33,226 | 35,120 | 37,765 | ||||
| - Sales of goods and services | P11+P12+P131 | -4,868 | -4,829 | -5,352 | -5,433 | -5,526 | -5,851 | ||||
| Market output (sales of market establishments) | P11 | -991 | -1,039 | -1,117 | -1,221 | -1,326 | -1,432 | ||||
| Output for own final use | P12 | -33 | -33 | -21 | -21 | -22 | -22 | ||||
| Incidental sales and fees of non-market establishments | P131 | -3,844 | -3,757 | -4,214 | -4,192 | -4,179 | -4,398 | ||||
| Final consumption expenditure | P3 | 30,447 | 31,298 | 32,236 | 33,489 | 35,649 | 38,366 | ||||
| = Net expenditure on current goods and services | P3 excl. D632 | 25,462 | 26,196 | 26,824 | 27,793 | 29,594 | 31,914 | ||||
| + Social transfers in kind via market producers | D632 | 4,986 | 5,102 | 5,412 | 5,696 | 6,056 | 6,452 | ||||
| made up of | |||||||||||
| Individual consumption (= social transfers in kind) | P31 (= D63) | 20,541 | 21,063 | 21,756 | 22,613 | 24,173 | 26,015 | ||||
| Social transfers in kind (via market producers) | D632 | 4,986 | 5,102 | 5,412 | 5,696 | 6,056 | 6,452 | ||||
| Social transfers in kind (provided directly by government) | D631 | 15,555 | 15,961 | 16,345 | 16,917 | 18,118 | 19,563 | ||||
| Collective consumption (= actual final consumption of government) | P32 | 9,906 | 10,235 | 10,480 | 10,876 | 11,476 | 12,351 | ||||
| Total social transfers | D62 + D63 | 44,159 | 44,116 | 44,848 | 45,439 | 47,202 | 49,385 | ||||
| Social benefits in cash | D62 | 23,618 | 23,053 | 23,092 | 22,826 | 23,029 | 23,370 | ||||
| Social transfers in kind (= individual consumption) | D63 | 20,541 | 21,063 | 21,756 | 22,613 | 24,173 | 26,015 | ||||
| Table 5 General Government financial transactions | |||||||||||
| €million | |||||||||||
| Description | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||
| Net lending (+) / net borrowing (-) | B.9 | -11,094 | -7,118 | -5,086 | -1,809 | -830 | 46 | ||||
| equals | |||||||||||
| Net acquisition of financial assets | ΔA | -6,036 | -18,902 | -8,753 | -4,587 | -1,857 | 17,012 | ||||
| EDP debt instruments | F2 + F3 + F4 | -4,158 | -19,666 | -7,016 | -4,872 | 1,948 | 2,714 | ||||
| Currency and deposits | F2 | -1,286 | -6,438 | -303 | -3,157 | 2,447 | 4,305 | ||||
| Debt securities | F3 | -604 | -1,429 | -5,632 | -1,355 | -74 | -99 | ||||
| Short-term | F31 | 2,696 | -1,373 | -1,154 | -971 | 146 | -51 | ||||
| Long-term | F32 | -3,300 | -56 | -4,478 | -384 | -220 | -48 | ||||
| Loans | F4 | -2,268 | -11,799 | -1,081 | -360 | -425 | -1,492 | ||||
| Short-term loans | F41 | 349 | -788 | -530 | -46 | -32 | -228 | ||||
| Long-term loans | F42 | -2,617 | -11,011 | -551 | -314 | -393 | -1,264 | ||||
| Equity and Investment Fund Shares | F5 | -1,307 | -87 | 242 | -379 | -4,491 | -1,235 | ||||
| Other financial assets | F6 + F7 + F8 | -571 | 851 | -1,979 | 664 | 686 | 15,533 | ||||
| Insurance, Pensions and Standardised Guarantees | F6 | 0 | 1 | -1 | 0 | 0 | 0 | ||||
| Financial derivatives and Employee Stock Options | F7 | 171 | 143 | -1,737 | -278 | -426 | -165 | ||||
| Other accounts receivable/payable | F8 | -742 | 707 | -241 | 942 | 1,112 | 15,698 | ||||
| less | |||||||||||
| Net incurrence of liabilities | ΔL | 5,058 | -11,784 | -3,667 | -2,778 | -1,027 | 16,966 | ||||
| EDP debt instruments | F2 + F3 + F4 | 5,210 | -12,559 | -3,964 | -2,472 | -1,139 | 2,168 | ||||
| Currency and deposits | F2 | -30,707 | -10,474 | -247 | 609 | 281 | 39 | ||||
| Debt securities | F3 | 25,884 | 6,114 | 6,269 | -3,294 | 4,720 | 1,348 | ||||
| Short-term | F31 | -172 | 1,327 | -2,379 | 1,110 | 662 | 82 | ||||
| Long-term | F32 | 26,056 | 4,787 | 8,648 | -4,404 | 4,058 | 1,266 | ||||
| Loans | F4 | 10,033 | -8,199 | -9,986 | 213 | -6,140 | 781 | ||||
| Short-term loans | F41 | -482 | -137 | -241 | -338 | -200 | 154 | ||||
| Long-term loans | F42 | 10,515 | -8,062 | -9,745 | 551 | -5,940 | 627 | ||||
| Other liabilities | F5 + F6 + F7 + F8 | -152 | 775 | 297 | -306 | 112 | 14,798 | ||||
| Equity and Investment Fund Shares | F5 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Insurance, Pensions and Standardised Guarantees | F6 | -1 | 0 | 0 | 0 | 0 | 0 | ||||
| Financial derivatives and Employee Stock Options | F7 | -1 | -1 | -1 | 0 | 5 | -5 | ||||
| Other accounts receivable/payable | F8 | -150 | 776 | 298 | -306 | 107 | 14,803 | ||||
| Table 6 General Government: detailed breakdown of net worth | |||||||||||||
| €million | |||||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||
| General Government balance sheet | |||||||||||||
| Net worth at market value, excluding pension liabilities | NW | -56,575 | -61,583 | -52,587 | -47,691 | -37,292 | -37,385 | ||||||
| equals | |||||||||||||
| Non-financial assets at market value | NFA | 88,167 | 93,046 | 98,247 | 104,598 | 111,424 | 114,060 | ||||||
| plus | |||||||||||||
| Financial net worth at market value, excluding pension liabilities | FNW | -144,742 | -154,629 | -150,834 | -152,289 | -148,716 | -151,445 | ||||||
| equals | |||||||||||||
| Financial assets at market value | FA | 93,203 | 82,537 | 82,682 | 78,753 | 79,167 | 92,370 | ||||||
| EDP debt instruments | F2 + F3 + F4 | 53,270 | 35,414 | 28,354 | 23,657 | 25,523 | 28,646 | ||||||
| Currency and deposits | F2 | 24,167 | 17,885 | 17,786 | 14,652 | 17,094 | 21,430 | ||||||
| Debt securities | F3 | 10,249 | 9,646 | 3,289 | 1,891 | 1,718 | 1,522 | ||||||
| Short-term | F31 | 3,744 | 2,369 | 1,184 | 143 | 378 | 322 | ||||||
| Long-term | F32 | 6,505 | 7,277 | 2,104 | 1,748 | 1,341 | 1,200 | ||||||
| Loans | F4 | 18,854 | 7,883 | 7,279 | 7,114 | 6,711 | 5,694 | ||||||
| Short-term loans | F41 | 2,303 | 1,516 | 986 | 939 | 907 | 680 | ||||||
| Long-term loans | F42 | 16,551 | 6,367 | 6,293 | 6,175 | 5,804 | 5,014 | ||||||
| Equity and Investment Fund Shares | F5 | 30,749 | 37,879 | 44,899 | 45,557 | 42,606 | 37,011 | ||||||
| Other financial assets | F6 + F7 + F8 | 9,184 | 9,244 | 9,429 | 9,539 | 11,038 | 26,713 | ||||||
| Insurance, Pensions and Standardised Guarantees | F6 | 0 | 1 | 0 | 0 | 0 | 0 | ||||||
| Financial derivatives and Employee Stock Options | F7 | 1,135 | 352 | 811 | 0 | 409 | 387 | ||||||
| Other accounts receivable/payable | F8 | 8,049 | 8,891 | 8,618 | 9,539 | 10,629 | 26,326 | ||||||
| less | |||||||||||||
| Liabilities at market value | L | 237,945 | 237,166 | 233,516 | 231,042 | 227,883 | 243,815 | ||||||
| EDP debt instruments | F2 + F3 + F4 | 228,902 | 227,822 | 223,194 | 221,125 | 218,340 | 219,621 | ||||||
| Currency and deposits | F2 | 31,356 | 20,918 | 20,713 | 21,315 | 21,597 | 21,636 | ||||||
| Debt securities | F3 | 126,146 | 141,988 | 146,321 | 143,057 | 146,555 | 147,088 | ||||||
| Short-term | F31 | 2,391 | 3,763 | 1,386 | 2,401 | 2,932 | 3,093 | ||||||
| Long-term | F32 | 123,755 | 138,225 | 144,935 | 140,656 | 143,622 | 143,995 | ||||||
| Loans | F4 | 71,400 | 64,916 | 56,160 | 56,753 | 50,188 | 50,897 | ||||||
| Short-term loans | F41 | 1,442 | 1,294 | 1,035 | 691 | 514 | 652 | ||||||
| Long-term loans | F42 | 69,959 | 63,622 | 55,125 | 56,062 | 49,674 | 50,245 | ||||||
| Other liabilities | F5 + F6 + F7 + F8 | 9,043 | 9,344 | 10,322 | 9,917 | 9,543 | 24,194 | ||||||
| Equity and Investment Fund Shares | F5 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Insurance, Pensions and Standardised Guarantees | F6 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Financial derivatives and Employee Stock Options | F7 | 932 | 457 | 1,138 | 1,039 | 558 | 406 | ||||||
| Other accounts receivable/payable | F8 | 8,111 | 8,887 | 9,184 | 8,878 | 8,985 | 23,788 | ||||||
| Memo: Estimated pension liabilities of government | 98,000 | 109,800 | 114,500 | 114,500 | 114,500 | 114,500 | |||||||
| Memo: Net worth, including pension liabilities | -154,575 | -171,383 | -167,087 | -162,191 | -151,792 | -151,885 | |||||||
| Contingent liabilities | 59,522 | 29,412 | 15,955 | 9,006 | 5,315 | 5,054 | |||||||
| Guarantees | 56,020 | 25,145 | 11,304 | 3,973 | 282 | 7 | |||||||
| Off-balance sheet PPPs and concessions | 3,502 | 4,266 | 4,651 | 5,032 | 5,032 | 5,048 | |||||||
| Memo: Net worth, including pension liabilities and contingent liabilities | -214,097 | -200,795 | -183,042 | -171,197 | -157,107 | -156,939 | |||||||
| Change in net worth of government | |||||||||||||
| Opening net worth | -52,191 | -56,575 | -61,583 | -52,587 | -47,691 | -37,292 | |||||||
| Change in net worth due to transactions | -10,563 | -6,095 | -3,818 | -199 | 539 | 2,683 | |||||||
| Net acquisition of non-financial assets | P5 + NP - P51c | 531 | 1,023 | 1,268 | 1,610 | 1,369 | 2,637 | ||||||
| Net lending/net borrowing | B9 | -11,094 | -7,118 | -5,086 | -1,809 | -830 | 46 | ||||||
| = Net acquisition of financial assets | -6,036 | -18,902 | -8,753 | -4,587 | -1,857 | 17,012 | |||||||
| - Net incurrence of liabilities | -5,058 | 11,784 | 3,667 | 2,778 | 1,027 | -16,966 | |||||||
| Change in net worth due to other economic flows | Kx | 6,179 | 1,087 | 12,814 | 5,094 | 9,860 | -2,775 | ||||||
| Other changes in non-financial assets | 2,249 | 3,856 | 3,933 | 4,740 | 5,457 | 0 | |||||||
| Other changes in financial net worth | 3,930 | -2,769 | 8,881 | 354 | 4,403 | -2,775 | |||||||
| = Other changes in financial assets | 7,360 | 8,236 | 8,898 | 658 | 2,271 | -3,809 | |||||||
| EDP debt instruments | 200 | 1,810 | -44 | 175 | -82 | 409 | |||||||
| Equity and Investment Fund Shares | 7,042 | 7,217 | 6,778 | 1,037 | 1,540 | -4,360 | |||||||
| Other financial assets | 118 | -791 | 2,164 | -554 | 813 | 142 | |||||||
| - Other changes in liabilities | -3,430 | -11,005 | -17 | -304 | 2,132 | 1,034 | |||||||
| EDP debt instruments | -5,280 | -11,479 | 664 | -403 | 1,646 | 887 | |||||||
| Other liabilities | 1,850 | 474 | -681 | 99 | 486 | 147 | |||||||
| Closing net worth | -56,575 | -61,583 | -52,587 | -47,691 | -37,292 | -37,385 | |||||||
| Table 7 General Government Gross and Net Debt | ||||||||||
| €million | ||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||
| General Government Debt | ||||||||||
| Debt instrument liabilities at market value | 228,902 | 227,822 | 223,194 | 221,125 | 218,340 | 219,621 | ||||
| + Difference between face value and market value | -13,564 | -24,457 | -21,559 | -20,415 | -16,972 | -13,407 | ||||
| Gross General Government Debt (face value) | GGDebt | 215,338 | 203,365 | 201,635 | 200,710 | 201,368 | 206,214 | |||
| By category: | ||||||||||
| Currency and deposits | F2 | 31,356 | 20,918 | 20,713 | 21,315 | 21,597 | 21,636 | |||
| Debt securities | F3 | 112,665 | 119,078 | 125,766 | 123,881 | 130,121 | 134,236 | |||
| Short-term | F31 | 2,389 | 3,760 | 1,380 | 2,395 | 2,929 | 3,085 | |||
| Long-term | F32 | 110,276 | 115,318 | 124,387 | 121,485 | 127,192 | 131,151 | |||
| Loans | F4 | 71,317 | 63,369 | 55,156 | 55,515 | 49,650 | 50,343 | |||
| Short-term | F41 | 1,442 | 1,294 | 1,032 | 691 | 514 | 647 | |||
| Long-term | F42 | 69,876 | 62,075 | 54,124 | 54,824 | 49,136 | 49,696 | |||
| less EDP debt instrument assets | F2 + F3 + F4 | 53,270 | 35,414 | 28,353 | 23,657 | 25,524 | 28,646 | |||
| By category: | ||||||||||
| Currency and deposits | F2 | 24,167 | 17,885 | 17,786 | 14,652 | 17,094 | 21,430 | |||
| Debt securities | F3 | 10,249 | 9,646 | 3,288 | 1,891 | 1,719 | 1,522 | |||
| Short-term | F31 | 3,744 | 2,369 | 1,184 | 143 | 378 | 322 | |||
| Long-term | F32 | 6,505 | 7,277 | 2,104 | 1,748 | 1,341 | 1,200 | |||
| Loans | F4 | 18,854 | 7,883 | 7,279 | 7,114 | 6,711 | 5,694 | |||
| Short-term | F41 | 2,303 | 1,516 | 986 | 939 | 907 | 680 | |||
| Long-term | F42 | 16,551 | 6,367 | 6,293 | 6,175 | 5,804 | 5,014 | |||
| Net General Government Debt (face value) | GGNetDebt | 162,068 | 167,951 | 173,282 | 177,053 | 175,844 | 177,568 | |||
| By category: | ||||||||||
| Currency and deposits | F2 | 7,189 | 3,033 | 2,927 | 6,663 | 4,503 | 206 | |||
| Debt securities | F3 | 102,416 | 109,432 | 122,478 | 121,990 | 128,402 | 132,714 | |||
| Short-term | F31 | -1,355 | 1,391 | 196 | 2,252 | 2,551 | 2,763 | |||
| Long-term | F32 | 103,771 | 108,041 | 122,283 | 119,737 | 125,851 | 129,951 | |||
| Loans | F4 | 52,463 | 55,486 | 47,877 | 48,401 | 42,939 | 44,649 | |||
| Short-term | F41 | -861 | -222 | 46 | -248 | -393 | -33 | |||
| Long-term | F42 | 53,325 | 55,708 | 47,831 | 48,649 | 43,332 | 44,682 | |||
| Table 8 Reconciliation of Exchequer Balance to General Government Deficit | ||||||
| € million | ||||||
| Description | ESA2010 code | 2015 | 2016 | 2017 | 2018 | |
| Exchequer balance | -64 | -1,018 | 1,906 | 106 | ||
| Deduct cash inflows which do not increase financial net worth | -9,149 | -4,042 | -4,875 | -1,960 | ||
| Inflows from sale or redemption of financial assets | -9,139 | -4,037 | -4,875 | -1,960 | ||
| Incurrence of Exchequer liability to Central Bank for notes and coins in circulation | -10 | -5 | 0 | 0 | ||
| Exclude cash outflows which do not reduce financial net worth | 4,911 | 1,574 | 202 | 272 | ||
| Acquisition of financial assets | 4,676 | 1,574 | 202 | 272 | ||
| Repayment of promissory notes notional loan principal | 234 | 0 | 0 | 0 | ||
| Redemption of Exchequer liability to Central Bank for notes and coins in circulation | 0 | 0 | 0 | 0 | ||
| Impact on financial net worth of Exchequer cash transactions | -4,302 | -3,487 | -2,767 | -1,583 | ||
| Adjust for impact of non-cash revenue and disposals of non-financial asset (+) | 212 | 456 | 242 | 286 | ||
| Difference between Exchequer cash tax revenue and time-adjusted Revenue Net Receipts | 237 | 349 | 105 | 275 | ||
| Receipts due from EU (Agriculture grants, Cohesion Fund, ESF and ERDF) | -134 | 104 | 44 | -89 | ||
| Accrual of interest due on contingent capital assets assigned to banks | 10 | -69 | 0 | 0 | ||
| Licence sales | 98 | 71 | 93 | 100 | ||
| Other accrued revenue | 0 | 0 | 0 | 0 | ||
| Adjust for impact of non-cash expenditure (-) | 237 | 844 | 349 | 238 | ||
| Capital transfers to financial institutions financed by promissory notes | 16 | 459 | 0 | 0 | ||
| Difference between interest paid and accrued | 148 | 516 | 218 | 451 | ||
| Difference between Exchequer cash issues and accrued net spending of departments and offices | -137 | -89 | 79 | 23 | ||
| Other accrued expenditure | 210 | -41 | 52 | -237 | ||
| Surplus/Deficit of Exchequer | B9_exchequer | -3,853 | -2,187 | -2,175 | -1,060 | |
| Surplus/Deficit of extra-budgetary bodies, funds and accounts consolidated with Exchequer | -8 | 187 | 809 | 834 | ||
| Social Insurance Fund | -69 | 378 | 624 | 1,070 | ||
| Bank & Deposit Guarantee Schemes | -19 | -242 | -12 | 24 | ||
| Capital Services Redemption Account | 0 | 0 | 0 | 0 | ||
| Small Savings Reserve Fund | 0 | 0 | 0 | 0 | ||
| Other Extra-Budgetary Funds | 166 | 25 | 171 | -286 | ||
| Health Service Executive | -86 | 26 | 26 | 26 | ||
| Surplus/Deficit of Budgetary Central Government | B9_bcg | -3,861 | -2,000 | -1,366 | -226 | |
| Surplus/Deficit of other Central Government bodies | -1,789 | 43 | 337 | 275 | ||
| National Pensions Reserve Fund | 640 | 63 | 329 | 375 | ||
| Non-market State corporations and agencies | -338 | 8 | 37 | 132 | ||
| Voluntary and joint board hospitals | 23 | -28 | -29 | -28 | ||
| Other adjustments | -2,113 | 0 | 0 | -203 | ||
| Conversion of AIB Preference shares into Ordinary shares | -2,111 | 0 | 0 | 0 | ||
| Concession asset reclassification & Court decision (consultants pay) | -2 | 0 | 0 | -203 | ||
| Surplus/Deficit of Central Government | B9_S1311 | -5,650 | -1,957 | -1,029 | 49 | |
| Surplus/Deficit of Local Government | B9_S1313 | 564 | 148 | 199 | -3 | |
| Surplus/Deficit of General Government | B9_S13 | -5,086 | -1,809 | -830 | 46 | |
| Table 9 Reconciliation of National Debt to General Government Debt | |||||||||||
| € million | |||||||||||
| Description | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 * | |||||
| Audited National Debt | 173,947 | 182,310 | 183,066 | 185,610 | 185,483 | 187,675 | |||||
| Composed of | |||||||||||
| Gross National Debt | 197,547 | 197,069 | 196,620 | 196,729 | 198,701 | 205,268 | |||||
| Medium/long term debt | 178,722 | 176,011 | 175,974 | 173,620 | 174,395 | 178,901 | |||||
| Irish Government Bonds | 111,007 | 116,339 | 125,086 | 121,645 | 127,581 | 131,829 | |||||
| EU/IMF Programme Funding and bilateral loans | 66,220 | 59,621 | 50,579 | 50,491 | 44,548 | 44,518 | |||||
| Other medium/long term debt | 702 | 922 | 1,163 | 1,693 | 1,893 | 2,238 | |||||
| Miscellaneous (including derivatives) | 792 | -871 | -854 | -209 | 373 | 316 | |||||
| Short term debt | 3,320 | 4,672 | 3,953 | 5,915 | 7,013 | 9,031 | |||||
| Foreign Bills | 482 | 2,254 | 1,046 | 363 | 502 | 513 | |||||
| Treasury Bills | 0 | 500 | 0 | 1,008 | 2,009 | 2,014 | |||||
| Borrowings from Funds under the control of the Minister for Finance | 676 | 523 | 1,579 | 2,518 | 2,281 | 2,591 | |||||
| Exchequer Bills/Notes (incl. Central Treasury Notes) | 2,163 | 1,395 | 1,327 | 2,025 | 2,221 | 3,913 | |||||
| State Savings Schemes | 15,505 | 16,386 | 16,692 | 17,194 | 17,293 | 17,337 | |||||
| Less cash and other financial assets | -23,601 | -14,759 | -13,554 | -11,119 | -13,217 | -17,593 | |||||
| Reverse deduction of cash, other financial assets and EFSF prepaid margin held by Exchequer | 24,131 | 15,289 | 14,084 | 11,119 | 13,217 | 17,593 | |||||
| Outstanding principal value of promissory notes | 215 | 201 | 0 | 0 | 0 | 0 | |||||
| Liability for coinage in circulation | 675 | 693 | 701 | 707 | 704 | 712 | |||||
| Accrual adjustments (State Savings) | 604 | 599 | 504 | 451 | 452 | 280 | |||||
| Adjustment from discounted to nominal value | 4 | 2 | 8 | -2 | -5 | 2 | |||||
| National Loans Advance Interest | 5 | 49 | 24 | 29 | 46 | 41 | |||||
| Gross treatment of collaterals | 948 | 1,004 | 783 | 522 | 50 | 68 | |||||
| Other adjustments (repurchase agreements, OPW contracts and exclusion of financial derivatives) | 48 | 38 | 26 | 20 | 43 | 26 | |||||
| Unconsolidated Exchequer Debt (Maastricht definition) | 200,575 | 200,185 | 199,196 | 198,455 | 199,992 | 206,396 | |||||
| of which: Liabilities to other Central Government bodies | 2,316 | 2,529 | 3,372 | 3,985 | 4,459 | 6,406 | |||||
| Exchequer contribution to Central Government debt | 198,259 | 197,656 | 195,824 | 194,470 | 195,532 | 199,990 | |||||
| of which: Liabilities to Local Government | 29 | 22 | 0 | 0 | 0 | 0 | |||||
| Exchequer contribution to General Government debt | 198,230 | 197,634 | 195,824 | 194,470 | 195,532 | 199,990 | |||||
| Housing Finance Agency (HFA) | |||||||||||
| Gross debt of HFA | 4,423 | 4,209 | 3,615 | 3,612 | 3,617 | 3,790 | |||||
| of which: Liabilities to other Central Government bodies | 3,711 | 3,152 | 2,427 | 2,056 | 1,783 | 1,587 | |||||
| HFA contribution to Central Government debt | 712 | 1,057 | 1,189 | 1,556 | 1,834 | 2,203 | |||||
| of which: Liabilities to Local Authorities | 286 | 644 | 965 | 1,295 | 1,514 | 1,850 | |||||
| HFA contribution to General Government debt | 427 | 413 | 224 | 261 | 320 | 353 | |||||
| Other Central Government | |||||||||||
| IBRC Consolidated | 12,660 | 1,237 | 735 | 698 | 332 | 252 | |||||
| Liabilities of Post Office Savings Bank Fund to Post Office Savings Bank | 2,646 | 2,672 | 2,765 | 2,919 | 3,121 | 3,298 | |||||
| Health Service Executive and Voluntary Hospitals | 148 | 158 | 128 | 134 | 135 | 135 | |||||
| National Oil Reserves Agency | 166 | 111 | 63 | 15 | 0 | 0 | |||||
| Irish Rail | 8 | 2 | 0 | 0 | 0 | 0 | |||||
| Westlink buyout: imputed loan from National Toll Roads to National Roads Authority | 310 | 260 | 221 | 171 | 121 | 71 | |||||
| All other bodies | 57 | 252 | 1,026 | 1,256 | 1,186 | 1,128 | |||||
| Other bodies' contribution to Central and General Government debt | 15,995 | 4,693 | 4,938 | 5,194 | 4,896 | 4,885 | |||||
| Total Central Government debt | 214,966 | 203,406 | 201,951 | 201,219 | 202,263 | 207,078 | |||||
| of which: Liabilities to Local Government | 314 | 666 | 965 | 1,295 | 1,514 | 1,850 | |||||
| Central Government contribution to General Government debt | 214,652 | 202,740 | 200,986 | 199,924 | 200,748 | 205,227 | |||||
| Local Government - Local Authorities | |||||||||||
| Borrowing from Housing Finance Agency | 4,306 | 4,185 | 3,639 | 3,645 | 3,365 | 3,259 | |||||
| Borrowing from other Central Government bodies | 77 | 271 | 70 | 28 | 329 | 282 | |||||
| Other borrowing | 578 | 625 | 649 | 786 | 619 | 987 | |||||
| Local Authorities' contribution to Local Government debt | 4,962 | 5,081 | 4,359 | 4,460 | 4,313 | 4,528 | |||||
| VECs / ETBs | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Total Local Government debt | 4,962 | 5,081 | 4,359 | 4,460 | 4,313 | 4,528 | |||||
| of which: Liabilities to Central Government | 4,276 | 4,456 | 3,710 | 3,673 | 3,693 | 3,540 | |||||
| Local Government contribution to General Government debt | 685 | 625 | 649 | 786 | 619 | 987 | |||||
| General Government Debt | 215,338 | 203,365 | 201,635 | 200,710 | 201,367 | 206,215 | |||||
| * unaudited figures | |||||||||||
| Table 10 Central Government transactions: revenue, expenditure and deficit | ||||||||||
| €million | ||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||
| Central Government transactions | ||||||||||
| Revenue | TR | 58,058 | 62,682 | 67,480 | 69,935 | 72,775 | 78,048 | |||
| Taxes and social contributions | D2 + D5 + D91 + D61 | 51,205 | 55,784 | 60,610 | 63,476 | 66,995 | 72,374 | |||
| Taxes | D2 + D5 + D91 | 41,110 | 45,056 | 49,455 | 51,639 | 54,563 | 59,213 | |||
| Social contributions | D61 | 10,095 | 10,728 | 11,156 | 11,837 | 12,431 | 13,161 | |||
| Sales of goods and services | P1O | 3,317 | 3,398 | 3,833 | 3,781 | 3,753 | 3,949 | |||
| Investment income | D4 | 3,322 | 3,101 | 2,728 | 1,851 | 1,811 | 1,334 | |||
| Current transfer revenue (excluding taxes) | D7 | 124 | 225 | 253 | 199 | 207 | 301 | |||
| Capital transfer revenue (excluding taxes) | D9N | 90 | 174 | 56 | 628 | 10 | 90 | |||
| Expenditure | TE | 69,143 | 69,952 | 73,129 | 71,892 | 73,804 | 77,999 | |||
| Expense | Expense | 68,057 | 67,955 | 71,094 | 69,670 | 71,818 | 74,860 | |||
| Compensation of employees | D1 | 16,568 | 16,819 | 17,430 | 17,899 | 18,999 | 20,377 | |||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 6,796 | 7,215 | 7,491 | 7,619 | 8,012 | 8,835 | |||
| Depreciation (Consumption of fixed capital) | P51c | 1,332 | 1,624 | 1,757 | 1,886 | 2,040 | 2,040 | |||
| Interest (excluding FISIM) | D41 | 7,738 | 7,574 | 6,833 | 6,158 | 5,797 | 5,225 | |||
| Subsidies | D3 | 1,909 | 1,867 | 1,790 | 1,774 | 1,823 | 1,685 | |||
| Social benefits | D62 + D632 | 27,134 | 26,913 | 27,159 | 27,086 | 27,517 | 28,235 | |||
| Other current transfers | D7 | 4,668 | 4,330 | 4,146 | 4,776 | 5,205 | 5,890 | |||
| Capital transfers | D9 | 1,913 | 1,613 | 4,488 | 2,473 | 2,425 | 2,572 | |||
| Net operating balance | NOB | -9,999 | -5,273 | -3,614 | 265 | 957 | 3,188 | |||
| Net acquisition of non-financial assets | P5 + NP - P51c | 1,086 | 1,997 | 2,035 | 2,222 | 1,985 | 3,139 | |||
| Central Government Surplus/Deficit | B9 | -11,085 | -7,270 | -5,649 | -1,957 | -1,029 | 49 | |||
| Table 11 Central Government: detailed classification of revenue and output | |||||||||||
| €million | |||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||
| Total Revenue | TR | 58,058 | 62,682 | 67,480 | 69,935 | 72,775 | 78,048 | ||||
| Taxes and social contributions | 51,205 | 55,784 | 60,610 | 63,476 | 66,995 | 72,374 | |||||
| Taxes | D2 + D5 + D91 | 41,110 | 45,056 | 49,455 | 51,639 | 54,563 | 59,213 | ||||
| Indirect taxes (taxes on production and imports) | D2 | 17,903 | 19,809 | 21,191 | 22,296 | 23,499 | 24,134 | ||||
| Taxes on products | D21 | 16,748 | 18,234 | 19,436 | 20,784 | 21,595 | 22,371 | ||||
| of which Value-Added Tax | D211 | 10,372 | 11,521 | 11,955 | 12,826 | 13,278 | 14,388 | ||||
| Other taxes on production | D29 | 1,155 | 1,575 | 1,755 | 1,511 | 1,903 | 1,763 | ||||
| Direct taxes | D5 | 22,929 | 24,889 | 27,863 | 28,932 | 30,616 | 34,561 | ||||
| Taxes on income, profits and capital gains | D51 | 21,298 | 23,016 | 26,599 | 27,893 | 29,601 | 33,575 | ||||
| Other current direct taxes | D59 | 1,630 | 1,873 | 1,263 | 1,039 | 1,016 | 986 | ||||
| Capital taxes | D91 | 278 | 359 | 401 | 411 | 448 | 518 | ||||
| Social contributions | D61 | 10,095 | 10,728 | 11,156 | 11,837 | 12,431 | 13,161 | ||||
| Actual social contributions | D611 + D613 | 8,833 | 9,480 | 10,092 | 10,634 | 11,338 | 12,146 | ||||
| PRSI receipts | D611 + D613(pt) | 7,310 | 7,960 | 8,524 | 9,238 | 9,836 | 10,643 | ||||
| Government employees' social contributions | D613(pt) | 1,523 | 1,519 | 1,568 | 1,397 | 1,502 | 1,502 | ||||
| Employers' imputed social contributions | D612 | 1,262 | 1,248 | 1,064 | 1,203 | 1,093 | 1,015 | ||||
| Sales of goods and services | P1O | 3,317 | 3,398 | 3,833 | 3,781 | 3,753 | 3,949 | ||||
| Sales of market establishments (= market output) | P11 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Imputed sales related to production of own-use capital assets (= output for own final use) | P12 | 33 | 33 | 21 | 21 | 22 | 22 | ||||
| Incidental sales and fees of non-market establishments | P131 | 3,284 | 3,365 | 3,812 | 3,760 | 3,731 | 3,928 | ||||
| Investment income | D4 | 3,322 | 3,101 | 2,728 | 1,851 | 1,811 | 1,334 | ||||
| Interest (excluding FISIM) | D41 | 1,448 | 1,074 | 690 | 276 | 174 | 201 | ||||
| of which received from local government | D41_LG | 99 | 72 | 51 | 62 | 75 | 72 | ||||
| Dividends | D42 | 1,771 | 1,922 | 1,932 | 1,468 | 1,532 | 1,020 | ||||
| Rent of land and subsoil assets | D45 | 103 | 105 | 106 | 107 | 105 | 113 | ||||
| Current transfer revenue | D39 + D7 | 124 | 225 | 253 | 199 | 207 | 301 | ||||
| Subsidies | D39 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Other current transfers | D7 | 124 | 225 | 253 | 199 | 207 | 301 | ||||
| Non-life insurance claims | D72 | 9 | 7 | 8 | 18 | 18 | 18 | ||||
| Grants from local government | D73 | 3 | 3 | 3 | 3 | 4 | 4 | ||||
| Other Domestic - Current | D7N_S1 | 102 | 179 | 149 | 145 | 150 | 149 | ||||
| From Rest of World - Current | D7N_S2 | 11 | 36 | 93 | 32 | 34 | 129 | ||||
| Capital transfer revenue | D9N | 90 | 174 | 56 | 628 | 10 | 90 | ||||
| Output | P1 | 24,695 | 25,658 | 26,678 | 27,404 | 29,051 | 31,252 | ||||
| Market output (sales of market establishments) | P11 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Output for own final use | P12 | 33 | 33 | 21 | 21 | 22 | 22 | ||||
| Non-market output | P13 | 24,662 | 25,625 | 26,657 | 27,383 | 29,029 | 31,231 | ||||
| = Non-market compensation of employees | D1_nonmarket | 16,535 | 16,786 | 17,409 | 17,878 | 18,977 | 20,355 | ||||
| = Total compensation of employees | D1 | 16,568 | 16,819 | 17,430 | 17,899 | 18,999 | 20,377 | ||||
| - Compensation of employees of market establishments | D1_market | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Compensation related to production of own-use capital assets | D1_own-use | -33 | -33 | -21 | -21 | -22 | -22 | ||||
| + Non-market intermediate consumption | P2_nonmarket | 6,796 | 7,215 | 7,491 | 7,619 | 8,012 | 8,835 | ||||
| = Total intermediate consumption | P2 | 6,796 | 7,215 | 7,491 | 7,619 | 8,012 | 8,835 | ||||
| - Intermediate consumption of market establishments | P2_market | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Intermediate consumption related to production of own-use capital assets | P2_own-use | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| + Non-market consumption of fixed capital | P51c_nonmarket | 1,332 | 1,624 | 1,757 | 1,886 | 2,040 | 2,040 | ||||
| = Total consumption of fixed capital | P51c | 1,332 | 1,624 | 1,757 | 1,886 | 2,040 | 2,040 | ||||
| - Consumption of fixed capital by market establishments | P51c_market | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Consumption of fixed capital related to production of own-use capital assets | P51c_own-use | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| + Other taxes on production, payable | D29_pay | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Other subsidies on production, receivable | D39_rec | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Table 12 Central Government: detailed classification of expenditure and consumption | |||||||||||
| €million | |||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||
| Total Expenditure | TE | 69,143 | 69,952 | 73,129 | 71,892 | 73,804 | 77,999 | ||||
| Expense | 68,057 | 67,955 | 71,094 | 69,670 | 71,818 | 74,860 | |||||
| Compensation of employees | D1 | 16,568 | 16,819 | 17,430 | 17,899 | 18,999 | 20,377 | ||||
| Of which: Related to production of own-use capital assets | 33 | 33 | 21 | 21 | 22 | 22 | |||||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 6,796 | 7,215 | 7,491 | 7,619 | 8,012 | 8,835 | ||||
| Use of goods and services [Intermediate consumption] | P2 | 6,796 | 7,215 | 7,491 | 7,619 | 8,012 | 8,835 | ||||
| Of which: Intermediate consumption of market establishments | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Taxes, payable | D5 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Depreciation (Consumption of fixed capital) | P51c | 1,332 | 1,624 | 1,757 | 1,886 | 2,040 | 2,040 | ||||
| Of which: Depreciation by market establishments | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Interest (excluding FISIM) | D41 | 7,738 | 7,574 | 6,833 | 6,158 | 5,797 | 5,225 | ||||
| Other domestic interest payable | D41_S1 | 3,100 | 2,884 | 2,436 | 2,250 | 2,100 | 1,831 | ||||
| Interest payable to rest of world | D41_S2 | 4,638 | 4,690 | 4,397 | 3,908 | 3,698 | 3,395 | ||||
| Subsidies | D3 | 1,909 | 1,867 | 1,790 | 1,774 | 1,823 | 1,685 | ||||
| Product subsidies | D31 | 1,071 | 957 | 864 | 909 | 930 | 932 | ||||
| Other subsidies on production | D39 | 838 | 910 | 926 | 865 | 893 | 753 | ||||
| Social benefits | D62 + D632 | 27,134 | 26,913 | 27,159 | 27,086 | 27,517 | 28,235 | ||||
| Social benefits in cash | D62 | 22,962 | 22,687 | 22,726 | 22,524 | 22,727 | 23,049 | ||||
| Social benefits in kind (via market producers) | D632 | 4,172 | 4,226 | 4,433 | 4,562 | 4,790 | 5,186 | ||||
| Other current transfers | D7 | 4,668 | 4,330 | 4,146 | 4,776 | 5,205 | 5,890 | ||||
| Net non-life insurance premiums | D71 | 58 | 74 | 55 | 105 | 107 | 107 | ||||
| Current grants to local government | D73 _LG | 1,798 | 1,607 | 1,657 | 1,808 | 2,082 | 2,232 | ||||
| Current international cooperation | D74 | 530 | 434 | 473 | 438 | 503 | 531 | ||||
| Miscellaneous current transfers | D75 | 719 | 731 | 455 | 574 | 782 | 647 | ||||
| VAT and GNI based EU budget contribution | D76 | 1,564 | 1,483 | 1,507 | 1,851 | 1,731 | 2,374 | ||||
| VAT-based EU own resources | D761 | 202 | 203 | 215 | 219 | 262 | 245 | ||||
| GNI-based EU own resources | D762 | 1,361 | 1,280 | 1,292 | 1,632 | 1,470 | 2,129 | ||||
| Capital transfers | D9 | 1,913 | 1,613 | 4,488 | 2,473 | 2,425 | 2,572 | ||||
| Capital grants to local government | D9_LG | 1,132 | 642 | 1,300 | 1,054 | 948 | 848 | ||||
| Investment grants | D92 | 743 | 778 | 1,077 | 1,420 | 1,447 | 1,511 | ||||
| Other capital transfers | D99 | 38 | 193 | 2,111 | 0 | 30 | 213 | ||||
| Net acquisition of non-financial assets | P5 + NP - P51c | 1,086 | 1,997 | 2,035 | 2,222 | 1,985 | 3,139 | ||||
| = Gross investment in non-financial assets | P5 + NP | 2,418 | 3,621 | 3,792 | 4,108 | 4,025 | 5,179 | ||||
| Gross fixed capital formation | P51 | 2,335 | 3,561 | 3,792 | 4,048 | 4,070 | 5,119 | ||||
| Net acquisition of stocks | P52 | 83 | 60 | 60 | 60 | 60 | 60 | ||||
| Net acquisition of unproduced assets | NP | 0 | 0 | -60 | 0 | -105 | 0 | ||||
| - Consumption of fixed capital | P51c | -1,332 | -1,624 | -1,757 | -1,886 | -2,040 | -2,040 | ||||
| Net expenditure on current goods and services | P3 excl. D632 | 21,378 | 22,260 | 22,845 | 23,623 | 25,298 | 27,303 | ||||
| = Output | P1 | 24,695 | 25,658 | 26,678 | 27,404 | 29,051 | 31,252 | ||||
| - Sales of goods and services | P11+P12+P131 | -3,317 | -3,398 | -3,833 | -3,781 | -3,753 | -3,949 | ||||
| Market output (sales of market establishments) | P11 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Output for own final use | P12 | -33 | -33 | -21 | -21 | -22 | -22 | ||||
| Incidental sales and fees of non-market establishments | P131 | -3,284 | -3,365 | -3,812 | -3,760 | -3,731 | -3,928 | ||||
| Final consumption expenditure | P3 | 25,550 | 26,486 | 27,278 | 28,185 | 30,088 | 32,489 | ||||
| = Net expenditure on current goods and services | P3 excl. D632 | 21,378 | 22,260 | 22,845 | 23,623 | 25,298 | 27,303 | ||||
| + Social transfers in kind via market producers | D632 | 4,172 | 4,226 | 4,433 | 4,562 | 4,790 | 5,186 | ||||
| made up of | |||||||||||
| Individual consumption (= social transfers in kind) | P31 (= D63) | 18,091 | 18,786 | 19,358 | 20,018 | 21,452 | 23,128 | ||||
| Social transfers in kind (via market producers) | D632 | 4,172 | 4,226 | 4,433 | 4,562 | 4,790 | 5,186 | ||||
| Social transfers in kind (provided directly by government) | D631 | 13,919 | 14,560 | 14,925 | 15,456 | 16,663 | 17,942 | ||||
| Collective consumption (= actual final consumption of government) | P32 | 7,459 | 7,701 | 7,920 | 8,167 | 8,636 | 9,361 | ||||
| Total social transfers | D62 + D63 | 41,053 | 41,472 | 42,084 | 42,542 | 44,179 | 46,177 | ||||
| Social benefits in cash | D62 | 22,962 | 22,687 | 22,726 | 22,524 | 22,727 | 23,049 | ||||
| Social transfers in kind (= individual consumption) | D63 | 18,091 | 18,786 | 19,358 | 20,018 | 21,452 | 23,128 | ||||
| Table 13 Local Government transactions: revenue, expenditure and deficit | ||||||||||
| €million | ||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||
| Local Government transactions | ||||||||||
| Revenue | TR | 6,487 | 5,669 | 6,445 | 6,536 | 6,868 | 7,136 | |||
| Taxes and social contributions | D2 + D5 + D91 + D61 | 1,733 | 1,671 | 1,633 | 1,570 | 1,570 | 1,615 | |||
| Taxes | D2 + D5 + D91 | 1,407 | 1,403 | 1,389 | 1,354 | 1,349 | 1,384 | |||
| Social contributions | D61 | 326 | 269 | 244 | 216 | 222 | 231 | |||
| Sales of goods and services | P1O | 1,551 | 1,431 | 1,519 | 1,653 | 1,773 | 1,902 | |||
| Investment income | D4 | 49 | 42 | 37 | 32 | 32 | 31 | |||
| Current transfer revenue (excluding taxes) | D7 | 1,827 | 1,651 | 1,702 | 1,856 | 2,126 | 2,277 | |||
| Capital transfer revenue (excluding taxes) | D9N | 1,328 | 874 | 1,554 | 1,425 | 1,366 | 1,311 | |||
| Expenditure | TE | 6,496 | 5,517 | 5,881 | 6,388 | 6,668 | 7,139 | |||
| Expense | Expense | 7,051 | 6,491 | 6,648 | 6,999 | 7,285 | 7,642 | |||
| Compensation of employees | D1 | 2,027 | 1,547 | 1,522 | 1,544 | 1,682 | 1,851 | |||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 1,400 | 1,722 | 1,752 | 1,905 | 1,861 | 2,029 | |||
| Depreciation (Consumption of fixed capital) | P51c | 1,833 | 1,693 | 1,758 | 1,836 | 1,907 | 1,907 | |||
| Interest (excluding FISIM) | D41 | 122 | 87 | 68 | 71 | 81 | 77 | |||
| Subsidies | D3 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Social benefits | D62 + D632 | 1,469 | 1,242 | 1,345 | 1,436 | 1,568 | 1,587 | |||
| Other current transfers | D7 | 48 | 40 | 41 | 40 | 51 | 51 | |||
| Capital transfers | D9 | 153 | 161 | 162 | 167 | 136 | 140 | |||
| Net operating balance | NOB | -564 | -822 | -203 | -464 | -418 | -506 | |||
| Net acquisition of non-financial assets | P5 + NP - P51c | -556 | -975 | -767 | -612 | -617 | -502 | |||
| Local Government Surplus/Deficit | B9 | -9 | 153 | 564 | 148 | 199 | -3 | |||
| Table 14 Local Government: detailed classification of revenue and output | |||||||||||
| €million | |||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||
| Total Revenue | TR | 6,487 | 5,669 | 6,445 | 6,536 | 6,868 | 7,136 | ||||
| Taxes and social contributions | 1,733 | 1,671 | 1,633 | 1,570 | 1,570 | 1,615 | |||||
| Taxes | D2 + D5 + D91 | 1,407 | 1,403 | 1,389 | 1,354 | 1,349 | 1,384 | ||||
| Indirect taxes (taxes on production and imports) | D2 | 1,407 | 1,403 | 1,389 | 1,354 | 1,349 | 1,384 | ||||
| Other taxes on production | D29 | 1,407 | 1,403 | 1,389 | 1,354 | 1,349 | 1,384 | ||||
| Capital taxes | D91 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Social contributions | D61 | 326 | 269 | 244 | 216 | 222 | 231 | ||||
| Actual social contributions | D611 + D613 | 186 | 130 | 126 | 82 | 100 | 118 | ||||
| Employers' imputed social contributions | D612 | 140 | 139 | 118 | 134 | 121 | 113 | ||||
| Sales of goods and services | P1O | 1,551 | 1,431 | 1,519 | 1,653 | 1,773 | 1,902 | ||||
| Sales of market establishments (= market output) | P11 | 991 | 1,039 | 1,117 | 1,221 | 1,326 | 1,432 | ||||
| Imputed sales related to production of own-use capital assets (= output for own final use) | P12 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Incidental sales and fees of non-market establishments | P131 | 560 | 391 | 402 | 431 | 448 | 470 | ||||
| Investment income | D4 | 49 | 42 | 37 | 32 | 32 | 31 | ||||
| Interest (excluding FISIM) | D41 | 49 | 42 | 37 | 32 | 32 | 31 | ||||
| of which received from Central Government | D41_CG | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Dividends | D42 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Current transfer revenue | D39 + D7 | 1,827 | 1,651 | 1,702 | 1,856 | 2,126 | 2,277 | ||||
| Subsidies | D39 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Other current transfers | D7 | 1,827 | 1,651 | 1,702 | 1,856 | 2,126 | 2,277 | ||||
| Grants from central government | D73 | 1,798 | 1,607 | 1,657 | 1,808 | 2,082 | 2,232 | ||||
| Other Domestic - Current | D7N_S1 | 29 | 44 | 45 | 49 | 44 | 46 | ||||
| Capital transfer revenue | D9N | 1,328 | 874 | 1,554 | 1,425 | 1,366 | 1,311 | ||||
| Grants from central government | D9N_CG | 1,132 | 642 | 1,300 | 1,054 | 948 | 848 | ||||
| Other capital transfers receivable | D99 | 196 | 232 | 254 | 371 | 418 | 463 | ||||
| Output | P1 | 5,634 | 5,367 | 5,499 | 5,822 | 6,069 | 6,512 | ||||
| Market output (sales of market establishments) | P11 | 991 | 1,039 | 1,117 | 1,221 | 1,326 | 1,432 | ||||
| Output for own final use | P12 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Non-market output | P13 | 4,644 | 4,327 | 4,382 | 4,601 | 4,743 | 5,081 | ||||
| = Non-market compensation of employees | D1_nonmarket | 2,027 | 1,547 | 1,522 | 1,544 | 1,682 | 1,851 | ||||
| = Total compensation of employees | D1 | 2,027 | 1,547 | 1,522 | 1,544 | 1,682 | 1,851 | ||||
| - Compensation of employees of market establishments | D1_market | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Compensation related to production of own-use capital assets | D1_own-use | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| + Non-market intermediate consumption | P2_nonmarket | 1,181 | 1,503 | 1,527 | 1,659 | 1,609 | 1,777 | ||||
| = Total intermediate consumption | P2 | 1,400 | 1,722 | 1,752 | 1,905 | 1,861 | 2,029 | ||||
| - Intermediate consumption of market establishments | P2_market | -219 | -219 | -225 | -247 | -252 | -252 | ||||
| - Intermediate consumption related to production of own-use capital assets | P2_own-use | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| + Non-market consumption of fixed capital | P51c_nonmarket | 1,436 | 1,278 | 1,333 | 1,399 | 1,453 | 1,453 | ||||
| = Total consumption of fixed capital | P51c | 1,833 | 1,693 | 1,758 | 1,836 | 1,907 | 1,907 | ||||
| - Consumption of fixed capital by market establishments | P51c_market | -397 | -415 | -425 | -437 | -454 | -454 | ||||
| - Consumption of fixed capital related to production of own-use capital assets | P51c_own-use | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| + Other taxes on production, payable | D29_pay | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| - Other subsidies on production, receivable | D39_rec | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Table 15 Local Government: detailed classification of expenditure and consumption | |||||||||||
| €million | |||||||||||
| Description | ESA2010 code | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||
| Total Expenditure | TE | 6,496 | 5,517 | 5,881 | 6,388 | 6,668 | 7,139 | ||||
| Expense | 7,051 | 6,491 | 6,648 | 6,999 | 7,285 | 7,642 | |||||
| Compensation of employees | D1 | 2,027 | 1,547 | 1,522 | 1,544 | 1,682 | 1,851 | ||||
| Of which: Related to production of own-use capital assets | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Use of goods and services plus taxes payable | P2 + D5 + D29 | 1,400 | 1,722 | 1,752 | 1,905 | 1,861 | 2,029 | ||||
| Use of goods and services [Intermediate consumption] | P2 | 1,400 | 1,722 | 1,752 | 1,905 | 1,861 | 2,029 | ||||
| Of which: Intermediate consumption of market establishments | 219 | 219 | 225 | 247 | 252 | 252 | |||||
| Taxes, payable | D5 + D29 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Depreciation (Consumption of fixed capital) | P51c | 1,833 | 1,693 | 1,758 | 1,836 | 1,907 | 1,907 | ||||
| Of which: Depreciation by market establishments | 397 | 415 | 425 | 437 | 454 | 454 | |||||
| Interest (excluding FISIM) | D41 | 122 | 87 | 68 | 71 | 81 | 77 | ||||
| Interest payable to central government | D41_CG | 99 | 72 | 51 | 62 | 75 | 72 | ||||
| Other domestic interest payable | D41_S1 | 22 | 15 | 17 | 9 | 6 | 5 | ||||
| Subsidies | D3 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Social benefits | D62 + D632 | 1,469 | 1,242 | 1,345 | 1,436 | 1,568 | 1,587 | ||||
| Social benefits in cash | D62 | 656 | 366 | 366 | 302 | 302 | 321 | ||||
| Social benefits in kind (via market producers) | D632 | 814 | 876 | 979 | 1,134 | 1,266 | 1,266 | ||||
| Other current transfers | D7 | 48 | 40 | 41 | 40 | 51 | 51 | ||||
| Grants to central government | D73_CG | 3 | 3 | 3 | 3 | 4 | 4 | ||||
| Miscellaneous current transfers | D75 | 45 | 37 | 38 | 37 | 47 | 47 | ||||
| Capital transfers | D9 | 153 | 161 | 162 | 167 | 136 | 140 | ||||
| Investment grants | D92 | 153 | 161 | 162 | 167 | 136 | 140 | ||||
| Net acquisition of non-financial assets | P5 + NP - P51c | -556 | -975 | -767 | -612 | -617 | -502 | ||||
| = Gross investment in non-financial assets | P5 + NP | 1,278 | 718 | 990 | 1,225 | 1,290 | 1,405 | ||||
| Gross fixed capital formation | P51 | 1,278 | 718 | 931 | 1,225 | 1,290 | 1,405 | ||||
| Net acquisition of stocks | P52 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Net acquisition of unproduced assets | NP | 0 | 0 | 60 | 0 | 0 | 0 | ||||
| - Consumption of fixed capital | P51c | -1,833 | -1,693 | -1,758 | -1,836 | -1,907 | -1,907 | ||||
| Net expenditure on current goods and services | P3 excl. D632 | 4,084 | 3,936 | 3,979 | 4,170 | 4,296 | 4,611 | ||||
| = Output | P1 | 5,634 | 5,367 | 5,499 | 5,822 | 6,069 | 6,512 | ||||
| - Sales of goods and services | P11+P12+P131 | -1,551 | -1,431 | -1,519 | -1,653 | -1,773 | -1,902 | ||||
| Market output (sales of market establishments) | P11 | -991 | -1,039 | -1,117 | -1,221 | -1,326 | -1,432 | ||||
| Output for own final use | P12 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Incidental sales and fees of non-market establishments | P131 | -560 | -391 | -402 | -431 | -448 | -470 | ||||
| Final consumption expenditure | P3 | 4,897 | 4,812 | 4,958 | 5,304 | 5,562 | 5,877 | ||||
| = Net expenditure on current goods and services | P3 excl. D632 | 4,084 | 3,936 | 3,979 | 4,170 | 4,296 | 4,611 | ||||
| + Social transfers in kind via market producers | D632 | 814 | 876 | 979 | 1,134 | 1,266 | 1,266 | ||||
| made up of | |||||||||||
| Individual consumption (= social transfers in kind) | P31 (= D63) | 2,450 | 2,278 | 2,398 | 2,595 | 2,721 | 2,887 | ||||
| Social transfers in kind (via market producers) | D632 | 814 | 876 | 979 | 1,134 | 1,266 | 1,266 | ||||
| Social transfers in kind (provided directly by government) | D631 | 1,636 | 1,401 | 1,419 | 1,461 | 1,455 | 1,621 | ||||
| Collective consumption (= actual final consumption of government) | P32 | 2,448 | 2,534 | 2,560 | 2,709 | 2,841 | 2,990 | ||||
| Total social transfers | D62 + D63 | 3,105 | 2,644 | 2,764 | 2,897 | 3,023 | 3,208 | ||||
| Social benefits in cash | D62 | 656 | 366 | 366 | 302 | 302 | 321 | ||||
| Social transfers in kind (= individual consumption) | D63 | 2,450 | 2,278 | 2,398 | 2,595 | 2,721 | 2,887 | ||||
Introduction
This release comprises the latest official publication by CSO of annual Government Finance Statistics (GFS) results for years 2013 to 2018. The data in this release are subject to the normal verification process by Eurostat until 22 April 2019 and are therefore provisional.
The data published are consistent with the General Government Deficit and Debt levels reported at end-March 2019 under the EU regulation governing the Excessive Deficit Procedure (EDP). Consequently they may not always be fully aligned with the National Income and Expenditure and related publications such as the Institutional Sector Accounts.
The official publication by Eurostat of deficit and debt levels for all EU member states is due on 23 April 2019.
The tables provide detailed revenue, expenditure and balance sheet data for general government. These data are also available on CSO Statbank here .
The full suite of GFS tables are also available on the CSO website here .
Data for all EU Member States are available on Eurostat’s database here .
Sale of mobile telephony (UMTS) licences
On 27 March 2017 Eurostat published a Guidance Note on the treatment of mobile phone licences, exploration rights and other licences on the recording of revenues arising from the sale of licences by government - click here . In October 2017, CSO amended the treatment of past sales of mobile phone licences (in 2002, 2007 and 2013) to bring these in line with the March 2017 guidance note on the treatment of the sales of UMTS licences.
The latest sale of UMTS licenses in 2017 for the 3.6GHz band is included in the data published in this release. This data has been processed in the same manner as earlier sales, see Background notes of October 2017 release here for further detail on the methodology.
Reclassification of pension funds
The Eircom No. 2 and Coillte No. 2 pension funds were reclassified retroactively in the sector of general government (S.13) for this publication. This decision was verified by Eurostat at an EDP dialogue visit in February 2019.
Eircom No. 2 fund was established in 1999 by a capital transfer (D.99) of £800m/€1,015m from government (S.13) to the financial sector (S.12). This transfer has been removed from both S.13 and S.12. Corresponding adjustments were made to AF.2 in the financial accounts of both sectors.
Data on the value of this fund and payments from this fund are only available from 2011 and currently up to 2017. For the years 1999 to 2010, transfer payments have been estimated based on the original asset value of the fund and the asset value at end 2011. Transfer payments (D.62) from government (S.13) have increased and have decreased by a corresponding amount for the financial sector (S.12). The government (S.13) financial account shows corresponding F.2 flows in cash and reduction in AF.2 with the reverse reflected in the financial accounts of S.12. For the years 2011 to 2017, more detailed data is used as the estimate of D.62 pension payments. The financial accounts reflects these payments and imputes Other Economic Flows based on the change of the value of assets for this fund from the beginning of the year and the end of the year and the cash payments made during the year.
Data for 2018 has been estimated based on the previous year’s values and will be up-dated once updated 2018 data is available. This fund is due to run out in 2020 or 2021 at which point the Minister for Finance will take responsibility for the payment of pensioners.
Coillte No. 2 fund was established in 1989 upon the establishment of Coillte. Data on payments from this fund and receipts of this fund from 2008 to 2017 are available from Coillte’s annual financial reports. This data was used to estimate transfer payments (D.62) to pensions and actual household contributions (D.6113) payments from households to the fund (i.e. re-routed to households). The D.6113 payments also include the employer contributions to this fund.
Data for the years 1989 to 2007 have been trended based on average year-on-year change for the years for which data is available. Thus the D.62 payments and D.6113 receipts of government (S.13) have increased with corresponding decreases in these transactions for the financial sector (S.12). On the financial accounts, cash flows (F.2) and stock of cash (AF.2) for both the government (S.13) and financial sector (S.12) have corresponding adjustments.
This fund is due to run out in 2019 at which point the Minister for Finance will take responsibility for the payment of pensioners.
Reclassification of Approved Housing Bodies to local government sub-sector (S.1313)
As of March 2018, 14 Approved Housing Bodies (AHBs) have been reclassified to the local government sub-sector (S.1313) from the Non-Profit Institution Serving Households Sector (S.15). In addition the housing activities of another non-profit organisation have been re-routed to the local government sub-sector. Details on the reclassification can be found here .
Super dividend
In 2018 Q2 the exchequer received a super dividend of €1,426 million from the Central Bank of Ireland.
IBRC payment to Exchequer
In 2013 the payment by the Exchequer of €1.1 billion to meet obligations to IBRC deposit holders under the guarantee schemes in operation was treated as the granting of a loan from the Exchequer to IBRC, on the understanding that the Exchequer would be treated as a creditor of IBRC in the liquidation process and that there was a reasonable expectation of repayment. The 2018 re-payment of €340.7 million was made in 2018 Q4.
Consultant’s pay settlement
In June 2018 there was a settlement made following a court process with medical consultants in relation to pay arrears. The backdated payments of €213 million were recorded as D.99 expenditure of central government in Q2 2018.
Movements of note in the balance sheet
There were large transactions in F.8 assets and liabilities in Q3 2018 of +€10.2 billion and +€9.7 billion respectively. In ESA terms, F.8 corresponds to other accounts receivable or payable. These assets and liabilities are created in situations where there is a timing difference between the underlying transactions and the corresponding payments.
The most significant development in the balance-sheet during 2018 related to the value of the State’s investment portfolio. In net terms the State ran down its holdings of Equity and Investment Fund Shares by €1.2 billion (Table 5), while the value of this element of its portfolio fell by €5.6 billion (Table 6). Excluding net transactions, the change in value is predominantly explained by the losses incurred on the shares held in Irish banks.
Revisions to General Government Deficit/Surplus (GG Deficit/Surplus)
Estimates of the general government deficit have been revised since October 2018. The changes reflect the re-classification of Eircom and Coillte pensions and UMTS sales. Changes to recent years also reflect the availability of more up-to-date and detailed data sources.
Revisions to General Government Debt (GG Debt)
Estimates of the general government debt have been revised since October 2018. Revisions are due to improved compilation processes and, in recent years, also reflect the availability of more up-to-date and detailed data sources.
GDP figures used in publication
The GDP figures used in this publication are consistent with those published in the Quarterly National Accounts on 14 March 2019.
Modified Gross National Income (GNI*)
Modified Gross National Income (GNI*) is equal to Gross National Income at current market prices less the factor income of redomiciled companies, less depreciation on research and development related intellectual property imports and less depreciation on aircraft related to aircraft leasing.
GNI* for 2018 will not be available until mid-2019, hence no 2018 GNI* comparisons are shown in this release. These will be shown in the annual GIE release mid-2019 and the October annual release.
Government Finance Statistics – Concepts and Definitions
Government Finance Statistics (GFS) form the basis for fiscal monitoring in Europe, in particular in relation to the Excessive Deficit Procedure (EDP).
European GFS, including EDP statistics, are produced according to the legally binding accounting rules of the European System of Accounts (ESA2010). The Manual on Government Debt and Deficit (MGDD) provides further guidance on the implementation of ESA 2010 in the context of GFS.
EU Member States are required to report government deficit/surplus and debt data biannually under the EDP (before 1 April and 1 October in year N) for years N-4 to N-1 calendar years as well as a forecast for the current year. The data are reported in harmonised tables, which provide a consistent framework for the presentation of this data by Member States. The tables provide a structure for linking national budgetary aggregates with government deficit and debt.
Detailed statistics on government revenue and expenditure are also provided to Eurostat under the ESA transmission programme. For annual data the main tables reported are:
Table 0200 Revenue and expenditure of general government and sub-sectors
Tables 0900 and 0999 Taxes and national tax list
These data are available on the Eurostat website here .
Definition of General Government and its subsectors
The general government sector of the economy, is defined in ESA2010 paragraph 2.111: as “institutional units which are non-market producers whose output is intended for individual and collective consumption, and are financed by compulsory payments made by units belonging to other sectors, and institutional units principally engaged in the redistribution of national income and wealth.” General government comprises the sub-sectors central government (S.1311), state government (S.1312 – which does not apply in Ireland), local government (S.1313), and social security funds (S.1314 – which does not apply in Ireland),
General Government Deficit/Surplus (GG Deficit/Surplus) is the standard European measure of the fiscal balance, which is used to monitor compliance with the Stability and Growth Pact.
This measure is by definition equal to both Total Revenue (TR) less Total Expenditure (TE), and Net Acquisition of Financial Assets less Net Incurrence of Liabilities as shown in the GFS release.
A listing of some of the main items included in this release is shown below.
Main Components of General Government Expenditure and Revenue
P.2 Intermediate consumption – value of goods and services used in the process of production, excluding fixed assets
P.5 Gross capital formation
P.51g Gross fixed capital formation - acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by productive activity. Fixed assets are tangible or intangible assets produced as outputs from processes of production that are themselves used repeatedly, or continuously, in processes of production for more than one year
P.51c Consumption of fixed capital - the amount of fixed assets used up, during the period under consideration, as a result of normal wear and tear and foreseeable obsolescence, including a provision for losses of fixed assets as a result of accidental damage which can be insured against.
P.52 Changes in inventories
P.53 Acquisitions less disposals of valuables
D.1 Compensation of employees – the total remuneration of government employees
D.29 Other taxes on production (payable) all taxes that enterprises incur as a result of engaging in production, independently of the quantity or value of the goods and services produced or sold. These include taxes on use or ownership of land or buildings, taxes on use of fixed assets, taxes on total wage bill and payroll, taxes on international transactions related to production.
D.3 Subsidies (payable) - current unrequited payments which general government or the institutions of the European Union make to resident producers, with the objective of influencing their levels of production, their prices or the remuneration of the factors of production
D.4 Property income accrues when the owners of financial assets and natural resources put them at the disposal of other units of the economy. The income payable for the use of financial assets is called investment income, while that payable for the use of a natural resource is called rent. Property income is the sum of investment income and rent.
D.41 Interest receivable by the owners of a financial asset for putting it at the disposal of another institutional unit - applies to deposits (AF.2), debt securities (AF.3), loans (AF.4) and other accounts payable (AF.8)
D.42 Dividends receivable by the owners of share equities. Dividends exclude "super dividends" which arise where the dividend paid is large relative to the recent level of dividends and earnings. Super dividends are recorded as withdrawal of equity (F.5). This arises, for example, in the case of dividends paid by the Central Bank in 2015.
D.45 Rent of a natural resource – income receivable by the owner of a natural resource for putting the resource at the disposal of another party.
D.5 Current taxes on income, wealth, etc., (payable) - all compulsory, unrequited payments, in cash or in kind, levied periodically by general government and by the rest of the world on the income and wealth of units in the economy, and some periodic taxes which are assessed neither on income nor wealth
D.6 Social contributions - transfers to households, in cash or in kind, intended to relieve them from the financial burden of a number of risks or needs.
D.7 Other current transfers – includes VAT and GNI based EU budget contributions, current transfers between subsectors of government, current international co-operation and current transfers to households and non-profit institutions.
D.9 Capital transfers - involve the acquisition or disposal of an asset, or assets, by at least one of the parties to the transaction. Includes capital taxes and investment grants.
P.1 Total output of Government is equal to market output, own account capital formation, and non-market output (i.e. the sum of D.1+P.2+P51c). The market output referred to in this publication is the imputed market value of social housing rented dwellings. See Table 3.
P.3 Final consumption expenditure of Government is equal to the total of its output (P.1) plus the expenditure on products/services supplied to households via market producers minus the sales of goods and services (at both market and non-market prices). This is made up of individual non-market services plus collective non-market services (P.31 and P.32). See Table 4.
Categories of Financial Flows
F.1 Monetary gold and special drawing rights (SDRs)
F.11 Monetary gold
F.12 Special drawing rights (SDRs)
F.2 Currency and deposits
F.21 Currency
F.22 Transferable deposits
F.29 Other deposits
F.3 Debt securities
F.31 Short-term
F.32 Long-term
F.4 Loans
F.41 - Short-term loans
F.42 - Long-term loans
F.5 Equity and investment fund shares
F.51 Equity
F.52 Investment fund shares/units
F.6 Insurance pension and standardised guarantee schemes
F.7 Financial derivatives and employee stock options
F.71 Financial derivatives
F.72 Employee stock options
F.8 Other accounts receivable/payable
F.81 Trade credits and advances
F.89 Other trade credits
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Show Table 1 General Government Transactions: Revenue, Expenditure, Financing and Deficit
Hide Table 1 General Government Transactions: Revenue, Expenditure, Financing and Deficit