Dáil Éireann Debate, Tuesday - 23 March 2010
227 Deputy Michael McGrath asked the Minister for Finance the amount of interest paid in 2009 to service the national debt; the amount expected to be paid, for each year, between 2010 and 2014; and if he will make a statement on the matter. [12700/10]
Amharc ar fhreagraAs previously outlined in reply to PQ10987/10 on 4 March 2010, expenditure on national debt interest amounted to €2½ billion in 2009. Based on the projections for the Exchequer Borrowing Requirement for the years to 2014 set out in Budget 2010, the estimated cost of interest on the national debt is €4½ billion in 2010, €5½ billion in 2011, €6½ billion in 2012, €7½ billion in 2013 and €7½ billion in 2014. The National Treasury Management Agency has advised that, as is usual, these estimates were prepared on the basis of the prevailing market conditions for Irish Government bonds.
