The data displays the national debt of Ireland from 2012 to 2016, with projections up until 2022. In 2016, the national debt of Ireland was around 233.6 billion USD. For comparison, the Greek debt amounted to approx. 303 billion euro that same year. In a ranking of debt to GDP per country, Ireland is thus currently ranked tenth, while Greece is ranked second.
Ireland and the economic crisis
Ireland has been severely affected by the economic crisis owing mainly to the bursting of its real estate bubble in 2007. The crisis led to a dramatic decline in real estate prices and was a major factor in the financial and banking crisis, causing Ireland to enter recession in 2008 – which means that the economy underwent a period of decline, unemployment figures soared, numerous bankruptcies resulted and many businesses were forced into closure, and inflation and GDP declined.
