Govt economic plan to set out signposts – Kenny

//Govt economic plan to set out signposts – Kenny

Govt economic plan to set out signposts – Kenny

The Government is to publish its medium-term economic statement this afternoon.

The document will set out a framework for the State’s economic and budget policy for the remainder of the decade, and will take over from the Troika’s bailout programme.

Ireland is still subject to the European Union’s excessive deficit procedure.

This means the State has to bring the budget deficit below 3% of GDP by 2015.

That will define next year’s budget, and the size of the adjustment required to hit that target.

But once it is achieved, new budget rules under the Fiscal Treaty, now part of the Irish Constitution, will take effect.

They will require further measures to reduce government borrowing, so the books are balanced by the end of the decade.

That budget path, and the amount of economic growth expected to help the country along it will be set out in the Government’s first post-bailout economic plan. 

It will also spell out key areas for reforms aimed at boosting growth potential over the six years to 2020.

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By | 2013-12-17T09:11:27+00:00 December 17th, 2013|Headlines|0 Comments