May 30, 2013
Deputy John Deasy asked the Minister for Finance Ireland's gross domestic saving rate as a percentage of GDP.
Reply from Minister Michael Noonan: I am assuming the Deputy is referring to the household savings rate. The latest preliminary estimates from the Central Statistics Office indicate that gross household savings amounted to €11,084 million in 2012. This equates to 6.8 per cent of GDP in 2012.
I would point out that the gross household savings rate is typically expressed as a percentage of gross household disposable income. Expressed in this way, the savings rate was 12.5 per cent last year.
Dáil Éireann allocates a certain amount of time on Tuesdays, Wednesdays and Thursdays during which Deputies may ask questions of Members of the Government relating to Public Affairs connected with their Departments, or on matters of administration for whch they are officially responsible. The Taoiseach answers questions on his own Department on Tuesdays/Wednesdays.