€400 million in further cuts may be needed this year

The government may have to implement a further €400 million in spending cuts this year if it is to reach its deficit target, the Irish Fiscal Advisory Council has warned.

3rd April, 2012
€400 million in further cuts may be needed this year
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The government may have to implement a further €400 million in spending cuts this year if it is to reach its deficit target, the Irish Fiscal Advisory Council has warned.

In its second assessment report, the council said that the government’s plan to reduce the General Government deficit from approximately 10 per cent of GDP in 2011 to 8.6 per cent of GDP in 2012 was based on a real growth rate of 1.3 per cent in 2012.

However,...

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