asked the Minister for Finance the net borrowing (1) at home and (2) abroad by the State for each of the years 1977, 1978, 1979 and 1980 in the light of post-budget estimates and the impact of decisions taken to date during 1980; and the amount of foreign borrowing as a percentage of the total.
Written Answers . - State Borrowing .
356.
: The figures requested by the Deputy for the years 1977 to 1979 are:
|
(1) |
(2) |
(3) |
|
|
Domestic borrowing |
Borrowing abroad |
Borrowing abroad as a percentage of total borrowing |
|
|
£million |
£million |
||
|
1977 |
364 |
181 |
33% |
|
1978 |
457 |
353 |
44% |
|
1979 |
550 |
459 |
45% |
The budget estimate for the 1980 Exchequer borrowing requirement was £896 million. It would be premature at this stage of the financial year to furnish a revised outturn figure but it is likely that the outturn will be higher than the budget estimate.
During the first three-quarters of 1980 the Exchequer borrowed £900 million of which £248 million or 28 per cent was borrowed abroad. The amount of borrowing to be undertaken in the final quarter and the proportion of it which will come from abroad will be decided having regard to the financing needs of the Exchequer and the position of the external reserves.
The above figures which relate to borrowing abroad take account of foreign currency borrowings by the Exchequer as well as sales of Government securities denominated in Irish pounds to nonresidents.