Statistics

Composition of Debt

Gross National Debt at End-September 2021
  • This information is also available in tabular format
    • Composition of Debt September 2021 data


      Composition of National Debt at End-September 2021€bn

      Movement from
      end-2020 €bn

      Government Bonds*151.9

      15.1

      Fixed Rate Treasury Bonds144.5

      16.5

      Floating Rate Bonds

      6.0

      -1.5
      Amortising Bonds0.40.0
      Inflation-Linked Bonds

      1.0

      0.1
      EU Loans inc. SURE43.42.0
      European Financial Stabilisation Mechanism (EFSM)22.50.0
      European Financial Stability Facility (EFSF)18.40.0
      UK Bilateral Loan0.0-0.5
      SURE Programme Loan2.52.5
      State Savings Products**19.5

      0.7

      Fixed Rate Products15.20.4
      Prize Bonds4.40.3
      Short Term Paper

      15.1

      1.0

      Marketable (Commercial Paper and Treasury Bills)

      8.2

      -0.5

      Non-Marketable (Exchequer and Central Treasury Notes)

      6.9

      1.5

      Other Medium and Long Term Debt4.50.4
      European Investment Bank & Council of Europe Development Bank Loans1.50.0
      Private Placements & Medium-Term Notes

      3.1

      0.5
      Borrowing from Ministerial Funds

      3.9

      -0.4

      Gross National Debt238.4

      18.9

      Cash and Liquid Assets

      29.5

      12.1

      Other Non-Liquid Financial Assets

      2.0

      0.2
      National Debt

      206.9

      6.6

      Notes:

      Rounding may affect totals. National Debt figures for 2021 are unaudited.

      *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 €23.9 billion at end-September 2021.

      Source: NTMA

  • Composition of Debt at End-December 2020

    • Composition of Debt at End-December 2020€bn
      General Government Debt €bn
      Government Bonds*136.8
      Fixed Rate Treasury Bonds127.9
      Floating Rate Bonds7.5
      Amortising Bonds0.4
      Inflation-Linked Bonds0.9
      EU/UK Bilateral Loans41.4
      European Financial Stabilisation Mechanism (EFSM)22.5
      European Financial Stability Facility (EFSF)18.4
      UK Bilateral Loan0.5
      State Savings Products**18.8
      Fixed Rate Products14.7
      Prize Bonds4.1
      Short Term Paper14.0
      Marketable (Commercial Paper and Treasury Bills)8.6
      Non-Marketable (Exchequer and Central Treasury Notes)5.4
      Other Medium and Long Term Debt4.1
      European Investment Bank & Council of Europe Development Bank Loans1.5
      Private Placements & Medium-Term Notes2.6
      Borrowing from Ministerial Funds4.3
      Gross National Debt 219.5219.5
      Cash and Liquid Assets17.4
      Other Non-Liquid Financial Assets1.8
      National Debt 200.3
      General Government Debt adjustments-1.6
      General Government Debt217.9

      Notes:

      Rounding may affect totals. The National Debt 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 €22.7 billion at end-December 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-2020 stood at €217.9 billion. This is the equivalent of 58% of GDP or 105% of GNI*.

      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-2020 General Government Net Debt stood at €186.8 billion. This is the equivalent of 50% of GDP or 90% of GNI*.


      CSO Database

      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