‘Credible plan’ needed to reduce debt ratio post-pandemic, Central Bank says

Gabriel Makhlouf says measures are needed to address labour shortages and minimise ‘welfare traps’ in Budget 2022

1st September, 2021
‘Credible plan’ needed to reduce debt ratio post-pandemic, Central Bank says
Gabriel Makhlouf, the governor of the Central Bank, urged a ‘sustainable path to a more resilient medium-term position for the public finances’. Picture: Son Photographic

The state must put in place a credible plan to reduce the country’s debt ratio in the aftermath of the pandemic, the governor of the Central Bank has warned.

In a pre-budget letter addressed to Minister for Finance Paschal Donohoe, Gabriel Makhlouf also said measures must be taken to avoid labour shortages as the country emerges from almost 18 months of national lockdowns.

He said the country’s ratio of debt to income – which...

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