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Latest CSO stats show improvement in Government deficit

The General Government Deficit for the second quarter was 6 per cent of GDP.

Image: budget via Shutterstock

THE COUNTRY’s General Government Deficit stood at 6 per cent of of quarterly GDP in the second three months of the year, according to the latest figures from the CSO.

The figures show an improvement on the position for the second three months of 2012, when the corresponding figure was 8.3 per cent of GDP

The deficit figures show the difference between what the Government spends and what it takes in.

Meanwhile, the country’s gross debt (GGDebt) stood at €204.5 billion, or 125.7 per cent of annualised GDP at the end of the second three months of the year.

That compares to a level of €180.2 billion or 110.2 per cent of GDP at end of June 2012.

The debt level for the second quarter of this year represents an increase of €0.4 billion on the previous quarter.

Read: Government deficit grows by €360m in a year >

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