Interest rate on government borrowing to hit record low of 1.5% this year

NTMA says state will be charged less than €3.5 billion in interest repayments this year — a 50 per cent decline on the near €8 billion it paid in 2014

21st June, 2021
Interest rate on government borrowing to hit record low of 1.5% this year
Conor O’Kelly, the chief executive of the NTMA, said the interest bill on government debt continues to decline despite increased borrowing to pay for the cost of the pandemic. Picture: Rollingnews.ie

The interest rate on Irish government borrowings will hit record lows of just 1.5 per cent this year, according to the National Treasury Management Association (NTMA).

The agency said this record low average interest rate on government debt means the state will pay less than €3.5 billion in interest repayments this year, which is a 50 per cent decline on the near €8 billion a year the state was making in interest repayments in 2013 and 2014.

For 2020,...

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