Ireland's government debt per capita became one of the largest in the world in 2022 amid surging inflation and growing cost of living, the Irish Finance Ministry reported on Friday
MOSCOW (Pakistan Point News / Sputnik - 03rd February, 2023) Ireland's government debt per capita became one of the largest in the world in 2022 amid surging inflation and growing cost of living, the Irish Finance Ministry reported on Friday.
"Public debt stood at an estimated 226 billion ($245 billion) at the end of last year... at just over ��44,000 per person, Ireland has one the highest per capita debt burdens in the world," the ministry said in a statement.
The statement specified that in 2022, government finances underwent "shock" that struck the economy partly due to the escalation of the Ukraine conflict and a serious surge in energy prices connected to it.
The EU has been facing a massive energy crisis and struggling to keep its industries running in the aftermath of the global economic recession and Russia's military operation in Ukraine. The Ukraine crisis and sanctions have led to disruptions in supply chains and rising inflation worldwide.
