Control of national debt by 2015 uncertain, Central Bank warns

There are still huge ongoing risks to the Government’s efforts to get the budget deficit and debt level under control by 2015, according to the Central Bank.

In its latest economic letter on the fiscal compact, the Central Bank estimates highlight the high degree of uncertainty over the future of the economy.

At the upper end of its forecasts, it estimates that nominal GDP could reach €206bn by 2015, but on the downside it sees nominal GDP at €162bn. The Central Bank’s baseline scenario is that nominal GDP will be €184bn by 2015.