IMF expects Ireland to meet budget targets

The IMF expects Ireland to meet the agreed budget targets over the next two years and reduce the deficit to below 3% by 2015, according to mission chief Craig Beaumont.

The Government will have to maintain budget trimming efforts after 2015, although this should be achieved through a tight control on spending, he said. However, Mr Beaumont said measures such as tax increases and spending cuts could not be ruled out over this timeframe.

He was speaking to reporters following the troika’s 12th and last review of the economy as part of the bailout programme the Government negotiated in Nov 2010.