Finance Minister Michael Noonan last night welcomed the publication of a report by the International Monetary Fund.
The IMF periodic consultation reports, published yesterday, is designed to help protect the economic and financial well-being of countries.
The reports highlight Ireland’s positive economic performance and discuss how Ireland’s economy is likely to be affected by Brexit.
The report says ‘Ireland’s successful fiscal consolidation and growth turnaround have created fiscal space in the medium term…..but more efficient public spending could further increase the “effective” fiscal space. A more efficient delivery of public services could yield better outcomes for a given cost, or the same quality of outcome at a lower cost.’
Mr Noonan broadly agrees with the content of the report.
Commenting on these publications by the IMF Minister Noonan said, “I am particularly heartened to see that the IMF’s assessment is broadly in line with the Government’s own assessment of the health of the economy and that the IMF continue to recognise the hard work of Ireland’s and the Government’s policies that together have facilitated our recent improvements.”
“The IMF also recognises that the Government is fully committed to sound budgetary policy in the years ahead and that Ireland’s financial regulatory and supervisory frameworks have been significantly upgraded and the financial soundness of the banking sector has improved.” He added. (Reuters)
Source: www.businessworld.ie
