Ireland's Central Government Debt (% of GDP), 1990-2022

Ireland's government debt declined steadily from 86.3% of GDP in 1990 to 26.11% in 2006, benefiting from rapid economic growth during the Celtic Tiger years. However, the global financial crisis reversed this trend, with debt peaking at 123.71% in 2013 due to banking sector bailouts.

Post-crisis recovery efforts and GDP growth led to a sharp decline, with debt falling to 50.69% by 2022, showcasing effective fiscal management despite pandemic disruptions.