Written answers

Wednesday, 13 October 2010

9:00 pm

Photo of Tommy BroughanTommy Broughan (Dublin North East, Independent)
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Question 157: To ask the Minister for Finance the total cost of interest repayments on the national debt in 2007, 2008, 2009 and to date in 2010; given the additional debt that has been incurred due to the bank bailout scheme if he will estimate the interest repayment by the end of 2011; and if he will make a statement on the matter. [36672/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The debt servicing interest costs for the period from 2007-2011 are set out in the table. The figures for 2010 and 2011 are the Budget 2010 projections. It has been signalled publicly by my Department that debt interest costs in 2010 will be approximately €350 million lower than was forecast at Budget time. The estimated 2010 outturn and 2011 forecast are currently being revised by my Department and the National Treasury Management Agency in the context of the publication of the four-year budgetary plan. The plan will be published in the first half of November taking account of the latest economic and fiscal data, including the recent announcements in relation to banking measures.

2007(outturn)2008(outturn)2009(outturn)2010(forecast)*2011(forecast)
Debt Servicing Interest Costs €bn1.61.52.54.45.7

*Budget 2010 forecast, revised forecast for 2010 is €4.1 billion

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