Richard Boyd Barrett
Question:252. Deputy Richard Boyd Barrett asked the Minister for Finance the size of the national debt. [25517/20]
View answerTuesday, 22 September 2020
Questions (252, 253)
Richard Boyd Barrett
Question:253. Deputy Richard Boyd Barrett asked the Minister for Finance the estimated amount of interest that will be paid on the national debt in 2021 [25518/20]
View answerWritten answers
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 Update cash 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.