Written answers
Thursday, 9 May 2024
Department of Finance
Exchequer Deficit
Pearse Doherty (Donegal, Sinn Fein)
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161. To ask the Minister for Finance the source of Exchequer funding that would be required in the years 2026 and 2027 under the SPU, given the projected Exchequer deficits of €1.9 billion and €1.3 billion respectively; for example, whether the Exchequer account would be supported through borrowing; and if he will make a statement on the matter. [21174/24]
Michael McGrath (Cork South Central, Fianna Fail)
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The SPU fiscal forecasts incorporate Exchequer borrowing in both 2026 and 2027 when there is a projected Exchequer deficit. However, it should be noted that there is also borrowing included in the projections for 2024 and 2025, when the Exchequer is projected to run a surplus.
There is also maturing debt that will require refinancing: for example, based on the current maturity profile of the medium/long-term debt portfolio, maturing debt in the form of Government bonds as well as EFSM and SURE Programme loans totals almost €15 billion in 2026 and almost €9 billion in 2027.
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