Irish Sovereign Green Bonds Update

50 40 35 S5224 30 20 15 10 15 0 Norway Sweden Finland Ireland NL Korea Canada Australia IE (GNI*) Switzerland Denmark Belgium Singapore Direct Supports Indirect Supports Spain ZN UK USA France Germany Italy Japan Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Source: IMF, European Commission, Department of Finance Direct supports = Additional spending and forgone revenue Indirect supports = Equity, loans, and guarantees -18 Ireland fiscal response (c. €38bn, 19% of GNI*) highly skewed to direct supports unlike others in EU Combined 2020/21 Covid-19 fiscal response (% of GDP/GNI*) 2020 General Government Balance - Ireland close to Euro Area average (% of GDP) -4 -6 -8 -10 -12 -14 -16 Sweden Denmark Switzerland LX Germany Cyprus Ireland Greece NL Portugal Finland EA-19 Slovenia Italy Slovakia Austria France Spain Ireland (GNI*) Belgium 24 UK Japan ՏՈ -2 0

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