Finance Minister Brian Lenihan has indicated that cuts in excess of the previously mentioned figure of €3bn may be imposed in December's Budget.
Speaking at the ongoing Fianna Fáil Parliamentary Party meeting in Galway, Minister Lenihan also rubbished claims from Fine Gael leader Enda Kenny that it would take 10 years to fix the economy.
He said that given the chance, the current Government would have things back on track much sooner than that.
"The figure of €3bn is a minimum," Minister Lenihan said.
"Government will have to go through the different departments, we will have to look at what can be saved."
Minister Lenihan also said that there had been economic growth seen this year, despite critics saying that the €4bn in cuts imposed in last year's Budget would damage the economy.