National debt rose in 2007

THE national debt increased in 2007 as the Exchequer sank into a €1.6-billion deficit.

With tax revenues running well behind forecast in 2007 thanks to a slowing property market, the Government has been forced to increase its borrowing for the first time in a number of years.

New figures from the National Treasury Management Agency show the national debt increased to €37.6bn in 2007 from €35.9bn.