Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Much of that will have to do with refinancing government debt. We financed a large amount of government debt at moments in which interest debt were very low. The Deputy is aware of all of the changes in interest rates across the world in the past year or 18 months in particular. We assume then that the interest rate at which we will refinance existing debt will be higher. That is why it has gone up.