Oireachtas Joint and Select Committees

Tuesday, 22 July 2025

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Engagement with the NTMA on Matters Relating to its Operation

2:00 am

Mr. Frank O'Connor:

I am not confirming the €5.3 billion because it is a forecast and would be based on assumptions. I am saying that based on current interest rates one would expect a gradual increase in the interest bill as we replace that lower-cost debt we borrowed during previous periods into the end of the last decade and during Covid when rates were lower.

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