Richard Boyd Barrett
Ceist:372. Deputy Richard Boyd Barrett asked the Minister for Finance the amount of interest paid in 2018 that was contracted since 2008. [35035/18]
Amharc ar fhreagraTuesday, 24 July 2018
Ceisteanna (372)
Freagraí scríofa
Exchequer cash interest paid in respect of Ireland’s National Debt for the six-month period January to end-June 2018 was just under €3.9 billion. This is a provisional, unaudited figure, as provided to me by the National Treasury Management Agency (NTMA).
It includes interest paid on Government bonds, EU/IMF Programme loans, other medium/long term debt, short-term debt, and State Savings products.
It is difficult to say precisely how much of the interest paid to date this year relates to borrowing contracted since 2008 due to certain complexities in the debt portfolio. Examples of these complexities include (i) certain State Savings products allow additions, reinvestments and withdrawals before maturity and (ii) bonds can be auctioned or cancelled from any series regardless of their original issue date.
However, given that a large majority of the debt currently outstanding was issued since 2008, it is the case that the vast bulk of the interest paid in the first half of 2018 relates to debt contracted since 2008.
Question No. 373 answered with Question No. 247.