NTMA issues a warning on the impact of long-term borrowing for Ireland

As a result of the economic support measures, last year's budget surplus will turn into a deficit of up to 10% of gross domestic product this year and the government intends to borrow heavily to revive what was Europe's fastest-growing economy.

Conor O’Kelly, CEO of the National Treasury Management Agency said Ireland’s interest bill has fallen from €7.5bn to circa €4bn in the past five years. Picture Conor McCabe Photography.

Ireland's debt management agency is not worried about the next four years in terms of borrowing but said it is the decade after that which must be planned for.