The data requested by the Deputy, which has been provided by my Department and the National Treasury Management Agency, is provided. The Funding requirement for 2013 and 2014, consisting of the projected Exchequer deficit and Government bonds, is set out in the table.
-
|
2013
|
2014
|
-
|
€ billion
|
€ billion
|
Exchequer deficit
|
15.4
|
11.6
|
5% Bond April 2013
|
-5.1
|
-
|
4% Bond January 2014
|
-
|
-7.6
|
-
|
-
|
- Source: Department of Finance and NTMA
|
The funding requirement will be financed by borrowings and changes in Exchequer cash balances. The end 2012 projected Exchequer cash balance will be some €20 billion.
Funds in the Exchequer are used for the ongoing payments necessary for running the State. In addition to these day-to-day costs, there are two large debt redemptions that are scheduled for 2013 and 2014 as detailed in the table above.