The State expects to borrow less in 2020 than this year, as budget surpluses mean the Government is no longer borrowing for day-to-day spending, and with €15bn now built into the coffers. The State expects to borrow less in 2020 than this year, as budget surpluses mean the Government is no longer borrowing for day-to-day spending, and with €15bn now built into the coffers. The National Treasury Management Agency (NTMA) plans to issue €10bn to €14bn of bonds over the course of 2020. The large size of the debt falling due in the next 12 months has been dubbed the "debt chimney". Our opening cash balance is projected to be in excess of €15bn, which means that despite facing redemptions totalling almost €20bn, our funding requirement is lower than in previous years," the agency said.

Source: Irish Independent December 10, 2019 02:26 UTC