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Irish C.Bank Calls for Path to More Sustainable Deficit

Ireland’s 2021 budget should focus on supporting the productive capacity of the economy and building economic resilience, but a course to more sustainable deficits will eventually have to be set, Central Bank Governor Gabriel Makhlouf said on Wednesday.

The Irish government has said it expects a budget deficit of 4.5% and 5.5% in the budget, to be announced on Oct. 13, not including new measures to be announced on budget day, with cash borrowings in the region of 15-19 billion euros ($17.7-22.5 billion).

“It remains important for the government to provide a clear, credible and time-bound return to much lower and sustainable deficit and debt positions,” Makhlouf wrote in a letter to the minister for finance.

(Reporting by Conor Humphries; Editing by Jon Boyle)

Source: Reuters

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