Richard O'Donoghue (Limerick County, Independent Ireland Party) | Oireachtas source

This afternoon's engagement is to discuss the Annual Progress Report 2025. I welcome the Minister for Finance, Deputy Pascal Donohoe, and the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Deputy Jack Chambers, and their officials. I thank them for being here today.

The annual progress report was published on 6 May by the Department of Finance. The report replaces the previous stability programme updates and national reform programmes in the European budgetary cycle. As part of the revised EU fiscal framework, the revised EU rules aim to ensure responsible fiscal management while supporting investment and economic resilience.

The progress report focuses on actual expenditure outcomes compared with planned expenditure and on progress on country-specific recommendations. The committee welcomes the opportunity to engage with the Ministers on the report.

I invite the Minister for Finance to make his opening statement.