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...

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