Written answers
Thursday, 15 May 2008
Department of Finance
Fiscal Policy
5:00 pm
Leo Varadkar (Dublin West, Fine Gael)
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Question 56: To ask the Minister for Finance if he has discussions or communications with the ECB, European Commission or other European Governments regarding the possibility that Ireland may breach the 3% GDP ceiling for Government borrowing in 2009; and if he will make a statement on the matter. [19107/08]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In Budget 2008, a General Government Balance of -0.9% of GDP was projected for 2008 and -1.1% for 2009. As is the norm, I will publish updated figures later in the year. The European Commission's recently published Spring 2008 Economic Forecast includes a projection in Ireland's case of a deficit of 1.7% of GDP on the General Government Balance in 2009. In this regard, my euro area colleagues and I are currently engaged in the annual mid-year review of the implementation of budgetary policies and prospects for the coming year. No discussions have taken place with the ECB, European Commission or other European Governments on the possibility of Ireland breaching the 3% of GDP deficit ceiling in 2009.
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