The Irish government should maintain a tight fiscal stance in next year’s budget and not allow euphoria over a surge in economic growth in recent months to distract it from medium-term targets it is obliged to meet, the country’s fiscal watchdog has warned.
In a stance that represents a dash of cold water on last week’s data showing that Ireland returned to a Celtic Tiger-era growth rate of nearly 8 per cent in the second quarter of this year, the Irish Fiscal Advisory Council said that, with government spending still outpacing revenue by €7bn and the country’s debt at 120 per cent of gross domestic product, the overall fiscal position was too weak to change course now.
FT (Subscription Required)
© Financial Times
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article