National debt stands at €44,000 per person

Michael McGrath said the increase in debt was unavoidable due to the pandemic (Damien Storan/PA)

Ireland's public debt increased to €226bn last year and now stands at €44,000 for every person in the country, one of the highest per capita debt burdens in the world.

A new report from the Department of Finance shows the debt burden is well above the EU average of €30,288 per person and just behind Belgium with the highest in the EU at €50,136. Bulgaria, with debt of €2,705 per person is the lowest.