Bernard Durkan (Kildare North, Fine Gael)
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Question 156: To ask the Minister for Finance the expected national debt at the end of 2009; and if he will make a statement on the matter. [19289/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am advised by the National Treasury Management Agency that, in line with the Exchequer Borrowing Requirement for 2009 of some €20 billion as set out in the Supplementary Budget, the National Debt will increase to some €71 billion by end 2009. This equates to a General Government Debt ratio at end 2009 of 59% of GDP. The General Government Debt measure does not allow for the offsetting of cash balances or other assets such as the National Pensions Reserve Fund which stand at about 20% of GDP.

Although the debt level will rise over the coming years, it is rising from a low base and it should be borne in mind that Ireland's General Government Debt ratio at end 2009 will still be below the euro area average, which the EU Commission has forecast will be 77.7% in 2009.