Written answers

Tuesday, 22 September 2020

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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252. To ask the Minister for Finance the size of the national debt. [25517/20]

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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253. To ask the Minister for Finance the estimated amount of interest that will be paid on the national debt in 2021 [25518/20]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 252 and 253 together.

I am informed by the National Treasury Management Agency (NTMA) that at end-August 2020, Gross National Debt stood at almost €230bn. This is an increase of just over €23bn on the year-end 2019 position and reflects the impact of the COVID-19 pandemic on the public finances and the resultant increased borrowing requirement.

I should point out that Gross National Debt is expected to decline before year-end, primarily due to the €6.5bn bond maturity on 18 October.

After taking account of Exchequer cash balances and other financial assets, I am informed that the net measure, National Debt, stood at just under €198bn at end-August 2020.

In the April 2020 Stability Programme Updatecash interest on the National Debt in 2021 was projected at just below €3.9bn. An updated estimate will be published as part of next month’s Budget.

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