Written answers

Tuesday, 2 November 2010

9:00 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 173: To ask the Minister for Finance his current estimate of the amount of interest payable on the national debt for each of the years 2010, 2011, 2012, 2013, 2014, and 2015 [39771/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The detailed macro-economic and fiscal projections for the period 2011-2014 are currently being revised by my Department in the context of the publication of the Government's Four-Year Plan. Projections for debt servicing interest costs are not currently available for the period beyond 2014. While the up-to-date forecasts are still being finalised, the debt servicing costs previously set out are informative. Based on the Budget 2010 estimates, a table outlines the debt servicing interest costs for the period to end-2014 as calculated by the National Treasury Management Agency (NTMA) at that time. In respect of the forecast for 2010, on advice from the NTMA, my Department has already signalled publicly that debt interest costs in 2010 will be approximately €350 million lower than was forecast at Budget time.

2010**2011201220132014
Debt Servicing Interest Costs€bn*41⁄253⁄461⁄271⁄273⁄4

*Figures in table based on forecasts contained in Budget 2010

**Budget 2010 forecast, on the advice of the NTMA the latest estimate for 2010 is €4.1 billion

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