Saturday 16 December 2017

Hanafin says deficit plan remains after Anglo

Dara Doyle

Tourism Minister Mary Hanafin said that the Government will push on with a plan to narrow the fiscal deficit to 3pc of gross domestic product by 2014, even if the European Union classifies future state injections into the nationalised Anglo Irish Bank as government spending.

The EU yesterday said that Ireland’s budget shortfall widened to 14.3pc of gross domestic product last year after it reclassified €4bn pumped into Anglo as government spending.

Finance Minister Brian Lenihan said Anglo may need another €18bn.

“The economy this morning is no worse off than yesterday,” Hanafin said in an interview with RTE today.

“This hasn’t affected in any way our plan to reduce the deficit.”

Bloomberg

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