The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe @Paschald announcing the Government’s Summer Economic Statement (SES).pic.twitter.com/1IgqnrHSCh
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The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe @Paschald announcing the Government’s Summer Economic Statement (SES).pic.twitter.com/1IgqnrHSCh
The SES forms a key element of the reformed budgetary process by providing a policy background for the discussions in the Dáil and, subsequently, at the National Economic Dialogue on 27th and 28th June.
.@Paschald ‘Our economy is in good shape at the moment and this is reflected in the labour market. The level of employment is close to its highest level ever and we are approaching what could reasonably be called ‘full employment’
The SES 2018 sets out that: · The Government is targeting a deficit of 0.1 per cent of GDP next year, or better; · This would accommodate a budgetary package of €3.4 billion;pic.twitter.com/qIHGLutmFL
“While the economic situation is relatively healthy at present, it is clear that the external environment is also becoming increasingly challenging. A crucial policy response is to build up our capacity to respond to these challenges...
... This is why the Government is prioritising reducing public debt, further working down the deficit, establishing a Rainy Day Fund and avoiding pro-cyclical budgetary policies . While there are risks ahead there are also opportunities.’
Budgetary policy will be framed to reduce borrowing, rebuild our fiscal buffers and support steady, sustainable increases in living standards to ensure we are protected into the future. @Paschald @IRLDeptFinance
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