Ireland’s finance minister has predicted the economy will make a “good recovery” in the second half of this year, despite national debt having increased by about 35 billion euro due to the pandemic.
Paschal Donohoe said the national finances could sustain the difficulties caused by Covid-19, adding that there is a level of savings and inherent resilience in major parts of the economy that could allow for a recovery.
He made the comments following the publication of the Government’s Annual Report On Public Debt.
Mr Donohoe said national debt had increased by about 35 billion euro from 204 billion euro to around 239 billion euro as a result of dealing with the effects of Covid-19 on the economy.
Ireland s economy to make good recovery despite pandemic, says Finance Minister Paschal Donohoe
This is despite national debt increasing by about €35 billion
Finance minister Paschal Donohoe at Government Buildings in Dublin (Image: Liam McBurney/PA Wire)
Get the latest news from across Ireland straight to your inbox every single dayInvalid EmailSomething went wrong, please try again later.
Sign up!
When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time.