Written answers

Wednesday, 28 September 2011

9:00 pm

Photo of Tommy BroughanTommy Broughan (Dublin North East, Labour)
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Question 56: To ask the Minister for Finance the amount of the national debt at the end of each quarter in each of the years 2008, 2009 and 2010 and at the end of each month from 31 December 2010 to 31 August 2011; and if he will make a statement on the matter. [26470/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The information the Deputy requests is provided in the following tables, which have been compiled by the National Treasury Management Agency. National Debt 2008-2010:

(€m)200820092010
End-Q137,91954,24579,082
End-Q243,15765,27883,984
End-Q346,96270,75488,636
End-Q450,39875,15293,445

National Debt 2011:

(€m)2011
End-January94,396
End-February95,851
End-March100,945
End-April103,755
End-May104,255
End-June104,575
End-July112,830
End-August114,406

The sharp contraction in economic activity since 2007, three years of large budget deficits and the significant level of State support required for the banking sector have combined to drive up Ireland's national debt level. This rapid rise in the debt levels, which is evident in the figures above, underlines the importance of reducing the deficit and restoring order to the public finances.

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