Irish Economy: New Irish Fiscal Council says General Government deficit target should be cut to 1% of GDP for 2015
Oct 12th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: The first report of the new Irish Fiscal Council says there's a strong argument for strengthening the fiscal consolidation effort beyond that targeted by the Department of Finance in its April 2011 Stability Programme Update report (SPU). In particular, the current targets would leave the debt to GDP ratio on a relatively slow downward path. The Council believes that a General Government deficit target of the order of 1% of GDP (gross domestic product) for 2015 would be appropriate, which compares to the current SPU target of 2.8%.