Bloomberg News

Ireland May Need EU4 Billion Budget Adjustment, Group Says

October 12, 2011

Oct. 12 (Bloomberg) -- Ireland may need to increase its planned 3.6 billion euro budget adjustment by 400 million euros in 2012 to reach its deficit target, according to the Irish Fiscal Advisory Council.

Irish Energy Minister Pat Rabbitte said late yesterday the government “reckoned” that 3.6 billion euros of spending cuts and tax rises in 2012 will be enough to reach the deficit target of 8.6 percent of gross domestic product.

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