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Irish Finance Minister says 2014 budget to cut deficit to 4.8 percent
October 12, 2013 / 12:24 PM / 4 years ago

Irish Finance Minister says 2014 budget to cut deficit to 4.8 percent

DUBLIN (Reuters) - Ireland’s 2014 budget will cut the country’s deficit to 4.8 percent of gross domestic product, below the 5.1 percent maximum agreed with its EU-IMF bailout lenders, Finance Minister Michael Noonan said on Saturday.

Ireland's Finance Minister Michael Noonan presents the budget to waiting media at the Government Buildings in Dublin December 5, 2012. REUTERS/Cathal McNaughton

“The government took the view that we needed to have a deficit in the high fours so ... that we have a sufficient buffer in the event of international shocks,” Noonan said in a speech three days before he is due to unveil his 2014 budget.

Reporting by Conor Humphries; Editing by Sonya Hepinstall

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