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Investor Presentaiton

2.6 2.4 2.2 2.0 1.8 1.6 1.4 1.2 1.0 Portugal Spain Poland Greece Slovakia Hungary 50 45 40 35 30 25 20 15 10 5 0 World Italy Cyprus China Favourable population characteristics underpin debt sustainability over longer term Old age dependency ratio (65+ ages 15-64) compares well against OECD countries Slovakia Ireland Luxembourg Poland United States OECD Romania T Hungary Slovenia Czech Rep UK Netherlands Fertility rates in Ireland are above typical international replacement rates Germany Romania Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Source: World Bank WDI (2015 for OAD ratio, 2014 for Fertility) Austria Belgium Lithuania Spain Latvia Denmark France Euro Area Sweden Portugal Germany Finland Greece Italy Japan Japan Austria 7 Czech Rep Cyprus Latvia Slovenia Euro Area Luxembourg China Lithuania Denmark Netherlands OECD 7 Finland Belgium UK ՏՈ Sweden 7 Ireland France World - 57 52
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