Central Bank reveals rise in Government debt as household debt falls
Government debt increased by €13.8bn in the first quarter of the year to €237bn, according to the Central Bank.
Its latest bulletin for the three months to the end of March reflects the early stages of the Covid-19 pandemic.
Meanwhile, household debt fell by more than €2bn to €133bn and is over a third lower, or €70.1bn, than at its peak in 2008.
It equates to €26,979 of debt for every person in the State.
Today we published the Quarterly Financial Accounts: Q1, 2020. The Quarterly Financial Accounts present a complete and consistent set of quarterly financial data for all sectors of the Irish economy. Read more here: https://t.co/WISzWMq4Az pic.twitter.com/zI9zmCIt7j
— Central Bank of Ireland (@centralbank_ie) August 5, 2020
Household debt as a proportion of disposable income fell by 3% to stand at 111% and was driven by an increase in household disposable income over the quarter, in addition to the decrease in debt.