Dáil Éireann Debate, Wednesday - 10 November 2010
136 Deputy Brian Hayes asked the Minister for Finance the amount of money spent servicing the national debt and the average interest rate paid each year from 2000 to 2009; the projected cost of servicing the national debt and the projected average interest rate that will be paid each year from 2010 until 2019; and if he will make a statement on the matter. [41765/10]
View answerThe table sets out the cost of servicing the interest on the national debt and the average interest paid on outstanding debt for the period 2000-2010 as advised by the National Treasury Management Agency (NTMA).
|
Debt Servicing Interest Costs |
Average Interest Rate% |
|
|
€bn |
||
|
2000 |
2.1 |
5.4 |
|
2001 |
1.9 |
5.2 |
|
2002 |
1.7 |
4.6 |
|
2003 |
1.8 |
4.8 |
|
2004 |
1.7 |
4.4 |
|
2005 |
1.7 |
4.5 |
|
2006 |
1.9 |
5.0 |
|
2007 |
1.6 |
4.4 |
|
2008 |
1.5 |
3.5 |
|
2009 |
2.5 |
4.1 |
|
2010 |
4.1* |
4.8 |
*Current forecast for debt servicing interest costs in 2010.
In relation to the forecasts for debt interest costs for the period 2011-2014, 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 Budgetary Plan. While the up-to-date forecasts are still being finalised, the debt servicing interest costs for the period 2011-2014 as set out in Budget 2010 are informative and are detailed in the table below. For commercial reasons the NTMA does not disclose interest rate assumptions underpinning the forecasts for interest costs on national debt. Projections for debt servicing interest costs are not currently available for the years beyond 2014.
|
2011 |
2012 |
2013 |
2014 |
|
|
Debt Servicing Interest Costs €bn* |
5¾ |
6½ |
7½ |
7¾ |
*Figures in table based on forecasts contained in Budget 2010.
