Ireland's National Debt Could Reach €250 Billion by 2030; Borrowing Costs Rise

Ireland’s national debt, currently €30 billion, could reach €250 billion by 2030, according to the National Treasury Management Agency. The agency warns that the era of cheap state borrowing is over.

Meanwhile, AIB chief economist David McNamara forecasts inflation could hit 7 percent this year if the Strait of Hormuz blockade persists. In housing news, the rate of house price growth slowed in March to 6.5 percent nationally and 5.7 percent in Dublin, its lowest in over two years. Irish Life Health nearly doubled its profits last year, matching VHI.

The Commercial Court rejected a legal challenge to the €1.6 billion sale of PTSB to Austrian lender Bawag. Banking and Payments Federation Ireland met Finance Minister Simon Harris to discuss a proposed flat-tax personal investment account scheme, which could see Irish households invest up to €7 billion in its first year.

Economist John FitzGerald, on the Inside Business podcast, discussed the implications of rising oil prices due to the Gulf crisis for Irish households and businesses.