Oireachtas Joint and Select Committees

Thursday, 19 June 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report 2014: Irish Fiscal Advisory Council

3:15 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Prior to the fiscal compact treaty, our medium-term objective was set at 0.5%. Those countries with a debt level below 60% of GDP would be deemed to have a balanced budget if their structural deficit were not more than 1% while for countries such as Ireland’s it must be 0.5%. How does a different structural deficit rate through a country-specific recommendation lie with the fiscal compact treaty?

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