Thursday August 13, 2020

Central Bank says even higher debt levels could be sustainable

Mark Cassidy, the bank’s director of economics and statistics, has outlined two scenarios: one with the economy reopening as now, the other in which the state must respond to a second wave of Covid-19

5th July, 2020
‘The deficit could yet be greater given the prospect of further spending to support and stimulate the economy over the remainder of the year’

The government’s balance sheet will have a black hole of more than €23 billion and potentially higher at the end of the year, according to the Central Bank of Ireland.

Given the unprecedented economic shock the country has suffered due to the pandemic and associated public health measures that’s hardly surprising, but it‘s a stark reminder of damage caused nonetheless.

Launching the bank’s third quarter bulletin, Mark Cassidy, the...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Related Stories

Making provisions early helped the country’s lending institutions limit the worst damage from Covid-19, but the danger is far from over

Ian Guider | 4 days ago

New payment technologies will move quickly in the post-pandemic world and, whether they like it or not, monetary authorities cannot afford to be left behind

Kenneth Rogoff | 1 week ago

The death of the peacemaker has drawn tributes not just from his friends but also from one-time political opponents, showing the esteem in which he was held

Michael Brennan | 1 week ago