Wednesday, 9 May 2012

Ceisteanna (51)

Michael McGrath

Ceist:

54 Deputy Michael McGrath asked the Minister for Finance his estimate, based on all currently available information, including the projected deficits for 2013, 2014 and 2015 set out in the recent stability programme update and the maturity of Government bonds, the amount of additional funds Ireland will need to raise beyond the funds currently available in the EU-IMF programme of assistance in 2014 and 2015; and if he will make a statement on the matter. [23320/12]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Minister for Finance)

The most recent Exchequer deficit estimates for the years 2013-2015 were presented in the April 2012 Stability Programme Update. They are also set out in the table below. The National Treasury Management Agency (NTMA) advises me that a list of outstanding Irish Government bonds can be accessed on its website. Outstanding Irish Government bonds due to mature over the period 2013-2015, as well as the dates on which those bonds are due to mature are set out in the table below. This data reflects the position as at 30th April 2012:

€billion

Projected Exchequer Deficit

Irish Government Bond Maturities (maturity date)

IMF/EU and BilateralFacilities

Total Funding Requirement

2013

14.5

6.0 (18/04/2013)

20.5

2014

10.4

8.2 (15/01/2014)

18.6

2015

6.8

3.6 (18/02/2015) and (18/08/2015)

6.9

17.3

As of end-April 2012, some €48 billion of the €67½ billion in external funding available under the EU/IMF Programme had been drawn down, leaving a further €19½ billion to be drawn down over the remainder of this year and next. At end-April 2012, the Exchequer also maintained healthy Exchequer cash balances of €13.1 billion.

These cash balances as well as the remaining EU/IMF Programme funding are also available to finance the Exchequer over the remainder of 2012.