Thursday, 2 May 2013

Questions (57)

John Lyons

Question:

57. Deputy John Lyons asked the Minister for Finance if he will provide a detailed breakdown of the debt repayments and interest repayments for Ireland for 2014, 2015, 2016, 2017, 2018, 2019 and 2020; and if he will make a statement on the matter. [20909/13]

View answer

Written answers (Question to Finance)

The most recent General Government interest expenditure estimates covering the period 2014-2019 are set out in the table below. These figures are consistent with the estimates from the recently published Stability Programme Update (SPU). The SPU covers the period 2013-2016 primarily but also contains high level public finance forecasts for the years 2017-2019. Tables 17 and A3 of the SPU set out these interest expenditure estimates. The Deputy will appreciate that the interest expenditure estimates for the latter part of the period are particularly tentative at this point.

The following table also shows Government bond maturities as well as maturing EU/IMF Programme loans over the period 2014-2020. The Government bond maturity figures are taken from the 30 April Irish Government Bonds Outstanding Report. The EU/IMF Programme loan maturities reflect the position as of end-March 2013. The information in relation to Government bond maturities and Programme loan maturities is available on the website of the National Treasury Management Agency (NTMA).

€ billions

2014

2015

2016

2017

2018

2019

-

General Government Interest

% of GDP

8.5

4.9

8.9

4.9

9.2

4.8

9.5

4.8

9.9

4.8

10.1

4.7

-

-

2014

2015

2016

2017

2018

2019

2020

Government Bond Maturities

7.6

3.6

10.2

6.4

9.3

14.5

20.9

EU/IMF Programme Loan Maturities

0.1

6.9

6.2

3.3

7.3

6.0

5.0

It is important to note that the EU/IMF Programme loan maturities, as outlined in the table, do not reflect the agreement reached at the April informal Eurogroup and ECOFIN meetings to lengthen the maturities of Ireland’s EFSF and EFSM loans by increasing the weighted average maturity limit by 7 years. The €6.9 billion EU/IMF Programme loan maturity figure for 2015 includes a €1.27 billion loan from the EFSF. While this is due to mature in February 2015, it was announced at the time of draw down, in January 2012, that this loan would be rolled over.