<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000797073
<NAME> DREYFUS DEBT AND EQUITY FUNDS
<SERIES>
<NUMBER> 11
<NAME> DREYFUS PREMIER REAL ESTATE MORTGAGE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 16824
<INVESTMENTS-AT-VALUE> 15948
<RECEIVABLES> 1270
<ASSETS-OTHER> 217
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17435
<PAYABLE-FOR-SECURITIES> 1834
<SENIOR-LONG-TERM-DEBT> 1980
<OTHER-ITEMS-LIABILITIES> 23
<TOTAL-LIABILITIES> 3837
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14602
<SHARES-COMMON-STOCK> 1127
<SHARES-COMMON-PRIOR> 1107
<ACCUMULATED-NII-CURRENT> 110
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (238)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (876)
<NET-ASSETS> 13169
<DIVIDEND-INCOME> 201
<INTEREST-INCOME> 575
<OTHER-INCOME> 0
<EXPENSES-NET> 130
<NET-INVESTMENT-INCOME> 646
<REALIZED-GAINS-CURRENT> 81
<APPREC-INCREASE-CURRENT> 485
<NET-CHANGE-FROM-OPS> 1212
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (656)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34
<NUMBER-OF-SHARES-REDEEMED> (70)
<SHARES-REINVESTED> 57
<NET-CHANGE-IN-ASSETS> 780
<ACCUMULATED-NII-PRIOR> 142
<ACCUMULATED-GAINS-PRIOR> (319)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 42
<INTEREST-EXPENSE> 71
<GROSS-EXPENSE> 218
<AVERAGE-NET-ASSETS> 12596
<PER-SHARE-NAV-BEGIN> 11.25
<PER-SHARE-NII> .56
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> (0.59)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.69
<EXPENSE-RATIO> 0.20
</TABLE>
