IMF: €2 billion budget adjustment is necessary

The International Monetary Fund (IMF) has advised the Irish Government that another austerity budget is necessary in October.

18th June, 2014
The IMF noted Ireland's "broadening" recovery, but said another tough budget was still necessary

In its first monitoring review of Ireland following its exit from the bailout programme, the International Monetary Fund (IMF) has advised the Irish Government that another austerity budget is necessary in October.

The IMF noted that Ireland’s recovery was continuing, with unemployment falling and signs of increasing domestic retail demand.

The review noted however, that there is still “substantial uncertainty” about the level of growth.

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