|General Government Revenue and Expenditure|
|End of year||€m||% GDP||% GNI*||€m||% GDP||€m||% GDP|
In 2017, the government deficit was €1.0 billion (-0.4% of GDP, -0.6% of GNI*), an improvement on the 2016 deficit of €1.4 billion (-0.5% of GDP, -0.8% of GNI*). During 2017, government revenues increased by 3.9% to €76.5 billion with government expenditures increasing by 3.3% to €77.6 billion (Table 1).
The main driver of the increase in government revenues was an increase in Taxes of €2.8 billion (+5.3%). There were also increased revenues from Social contributions (+5%) and Sales of goods and services (+1.5%). Capital transfers decreased markedly between 2016 and 2017 (-57%). However, excluding the once-off reimbursement of a prepaid margin from the EFSF (€555 million) in 2016, the decrease in Capital transfers was -4% (Table 1).
Government expenditures rose by €2.5 billion between 2016 and 2017. There were increases of €1.2 billion (+6.4%) in Compensation of employees/Pay, €0.6 billion (+2.2%) in Social benefits and €0.3 billion (+3.6%) in Use of goods and services. Debt services costs, or Interest, decreased by €0.4 billion (-5.8%) (Tables 1 and 4).
In 2017, central government collected €72.8 billion (95%) of total revenue (Table 4). The balance was generated by local government in the form of commercial rates (Other taxes on production, D.29), social housing rents (included in Incidental sales and fees, P.131) and Other capital transfers (Table 8).
Central government spent €74.0 billion in 2017 (Table 4), resulting in a central government deficit of €1.2 billion down from €1.6 billion in 2016. Local government recorded a surplus of €182 million in 2017 (Table 7). The central and local balances combine to make up the general government deficit of €1.0 billion in 2017.
National accounts are compiled in the EU according to the European System of National Accounts 2010 (ESA 2010) framework.
The Government Income and Expenditure (GIE) 2017 release is fully aligned with the National Income and Expenditure (NIE) 2017, published on 19 July 2018.
The changes to the previously published tables under the Excessive Debt Procedure in April 2018 reflect updated data sources which become available between the April and July publications.
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.