Oireachtas Joint and Select Committees
Wednesday, 13 September 2017
Committee on Budgetary Oversight
Ex-ante Scrutiny of Budget 2018: Irish Fiscal Advisory Council and Economic and Social Research Institute
2:00 pm
Mr. Seamus Coffey:
That is correct, yes. Our calculation is based on an improvement in the structural balance of 0.6 percentages point of gross domestic product, GDP. The Department's calculation is based on hitting the medium-term objective, MTO, in 2018, but the rules set out that what is required is to stay on the adjustment path to the MTO and that requires a adjustment of 0.6 percentage points of GDP.
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