Agency saves €203m in debt service

THE National Treasury Management Agency (NTMA) saved €203 million in debt servicing last year, according to the 2003 annual report.

Set up in 1990, the NTMA reported yesterday total debt servicing over the 12 months cost the State €2.27 billion and accounted for about 8% of the total tax.

Of that total figure, interest payments over the same period came to €1.76bn.