The Department of Finance has released it’s pre-budget outlook. A back of the envelope calculation puts spending as a proportion of GNP at a whopping 55.3%. Higher than earlier estimates by Ronan Lyons and Goodbody StockBrokers.
GNP – 138.3bn – based on last years GNP of 154.5bn * 10.5% drop reported in pre-budget submission
Gross Current Expenditure = 61,234
Gross Capital Expenditure = 15,169
Total = 76.4bn
Per cent of GNP = 55.3%
No bio, some books worth reading – The Rational Optimist: How Prosperity Evolves – Matt Ridley .
Crisis Economics: A Crash Course in the Future of Finance -Nouriel Roubini, Stephen Mihm