Investor Presentaiton
% of GNI*
Households balance sheets improved
Debt levels much lower coming into pandemic + new Covid savings
Legacy of 2008-12 financial crisis and Covid is on
Government not private balance sheets
Gross HH saving rates have jumped in Ireland more than in
most countries due to forced savings/income supports
30
200
175
150
135
129
110
125
100
75
50
25
01
71
il
61
64
44
Household debt SME debt
51
35
16
12003 2008 2013 2021
Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta
National Treasury Management Agency
157
101
Public debt
Source: Central Bank of Ireland, Eurostat, CSO
Savings % of disposable income, 4Q MA
25
20
15
10
5
0
T
|
I
T
2005
2010
2015
2020
- Ireland
Euro Area 19 -
- United Kingdom
Source: CSO, ONS, Eurostat
Note: Gross Savings as calculated by the CSO has tended to be a volatile series, some caution is warranted when interpreting 19
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