Pension fund up €2.3bn

The National Pension Reserve Fund grew by €2.3bn last year despite the crisis in world financial markets.

In its latest annual report, the National Treasury Management Agency says the fund grew by 3.3% to more than €21bn in 2007.

Elsewhere, it says the country's National Debt also increased by €1.6bn to €37.6bn during the year.

However, it says Ireland's debt is still regarded as among the safest in the world.