Statistics

Composition of Debt

Gross National Debt at End-June 2020
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      Composition of Debt at End-June 2020
      €bn
      Government Bonds*137.6
      Fixed Rate Treasury Bonds128.1
      Floating Rate Bonds8.0
      Amortising Bonds0.5
      Inflation-Linked Bonds0.9
      EU/UK Bilateral Loans42.3
      European Financial Stabilisation Mechanism (EFSM)22.5
      European Financial Stability Facility (EFSF)18.4
      UK Bilateral Loan1.4
      State Savings Products**18.3
      Fixed Rate Products14.4
      Prize Bonds3.9
      Short Term Paper26.0
      Marketable (Commercial Paper and Treasury Bills)16.9
      Non-Marketable (Exchequer and Central Treasury Notes)9.1
      Other Medium and Long Term Debt3.1
      European Investment Bank & Council of Europe Development Bank Loans1.5
      Private Placements & Medium-Term Notes1.6
      Borrowing from Ministerial Funds3.0
      Gross National Debt 230.3
      Cash and Liquid Assets34.4
      Other Non-Liquid Financial Assets2.4
      National Debt 193.6

      Notes:

      Rounding may affect totals. National Debt figures for End-June are unaudited. The figures take account of the effect of currency hedging transactions.

      *Government Bonds includes NTMA repo activity.
      **State Savings Schemes also include Post Office Savings Bank (POSB) deposits. While not an explicit component of the National Debt, these funds are mainly lent to the Exchequer as a ways and means of funding short-term Exchequer requirements. Taking into account the POSB Deposits, total State Savings outstanding were €21.9 billion at end-June 2020.

      Source: NTMA

  • Read More
    • General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO) and is the measure used for comparative purposes across the European Union. The National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other financial assets. Gross National Debt is the principal component of GGD. GGD also includes the debt of central and local government bodies. GGD is reported on a gross basis and does not net off outstanding cash balances and other related assets – unlike the National Debt. The CSO report that GGD at end-2019 stood at €204.0 billion or 58.8% of Gross Domestic Product (GDP).

      The CSO produces a measure of General Government Net Debt by subtracting from the General Government Gross Debt figure the value of the financial assets corresponding to the categories of financial liabilities which comprise General Government Gross Debt. The CSO report that at end-2019 General Government Net Debt stood at €176.4 billion or 50.8% of GDP.

      Government Finance Statistics Annual – April 2020 Results – Central Statistics Office.

      The figures in this section relate to GGD and National Debt. However, it should be noted that the NTMA's responsibilities relate to National Debt only.

  • Composition of Debt at End-December 2019
    • National Debt
      €bn
      General Government Debt
      €bn
      Government Bonds*130.1
      EU & UK Bilateral Loans 43.3
      State Savings Products**17.8
      Short Term Paper10.0
      Other Medium and Long Term Debt2.6
      Borrowing from Ministerial Funds3.0
      Gross National Debt206.7206.7
      Cash and Liquid Assets16.5
      Other Non-Liquid Financial Assets2.0
      National Debt188.2
      General Government Debt adjustments-2.7
      General Government Debt204.0

      Rounding may affect totals. The figures take account of the effect of currency hedging transactions.

      *Government Bonds includes NTMA repo activity.

      **State Savings Schemes also include Post Office Savings Bank (POSB) deposits. While not an explicit component of the National Debt, these funds are mainly lent to the Exchequer as a ways and means of funding short-term Exchequer requirements. Taking into account the POSB Deposits, total State Savings outstanding were €21.2 billion at end-December 2019.

      Source: NTMA and Central Statistics Office (CSO) General Government Debt

  • Composition of Debt at End-December 2018

    • National Debt
      €bn
      General Gov Debt
      €bn
      Government Bonds131.8
      EU/IMF Programme Funding44.9
      Other Medium and Long Term Debt2.2
      State Savings Schemes (excludes POSB Deposits)17.3
      Short-Term Debt9.0
      Gross National Debt at End-December 2018205.3205.3
      Cash and Other Liquid Short-term Investments-15.3
      Other Non-Liquid Financial Assets-2.3
      National Debt at End-December 2018187.7
      General Government Debt adjustments
      0.7
      General Government Debt
      206.0

      Source: NTMA and Central Statistics Office (CSO) General Government Debt

      The figures take account of the effect of currency hedging transactions.

      Rounding may affect totals.