Bloomberg News

Irish Want to Use State-Asset Sales to Boost Growth, Hayes Says

October 10, 2011

Oct. 10 (Bloomberg) -- Ireland has “ongoing issues” with the country’s bailout partners, known as the troika, over government hopes of using some proceeds from state-asset sales for economic-growth initiatives, according to Brian Hayes, a junior government minister.

“What we need is a growth strategy allied with balancing of the budget,” Hayes said in an interview with Dublin-based broadcaster RTE Radio today. The government needs to deliver a minimum of 3.6 billion euros of budget cuts in 2012, he said.

The troika, comprising the European Union, European Central Bank and International Monetary Fund, will review Ireland’s aid program progress from Oct. 11 to Oct 20, he said. Hayes is a junior minister at the ministries for finance and public expenditure and reform.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Louisa Fahy at lnesbitt@bloomberg.net


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