| Ireland's deficit more than halves to 13.4 pct in 2011 |
| Last Updated(Beijing Time):2012-10-23 07:24 |
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Ireland has managed to cut its public deficit to 13.4 percent of the country's annual economic output in 2011 from 30.9 percent in 2010, the Department of Finance said here on Monday.
The Department of Finance attributed the deficit reduction to capital injections into financial institutions that took place in July last year.
In July 2011, a net amount of 16.5 billion euro was injected into Irish financial institutions.
However, Ireland's debt levels in the meantime jumped to 106.4 percent of its GDP in 2011 from 92.2 percent a year earlier, the finance department said.
According to the Luxembourg-based Eurostat, the European Union's statistics office, the deficit of the 17-member eurozone and and the wider EU area in 2011 stood at 4.1 percent and 4.4 percent of GDP respectively, while government debt climbed to 87.3 percent and 82.5 percent respectively. |
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