Oireachtas Joint and Select Committees
Thursday, 18 October 2012
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Fiscal Responsibility Bill 2012: Committee Stage
2:30 pm
Michael Noonan (Limerick City, Fine Gael)
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We have some material here and I will supply the Deputy with a copy because a tabular statement accompanies it. The text says that the IMF also calculated the structural balance for Ireland but was allowed to vary its methodology to take account of country-specific circumstances. The text states that its estimates show that by 2015, the actual deficit of 2.8% is still larger than the structural deficit of 2.5%, suggesting that the economy will still be operating slightly below potential at that point. It does not make sense for me to read out the tables but I can certainly supply them.