McCreevy questions findings of ESRI report

The Minister for Finance, Charlie McCreevy, is questioning the findings of the ESRI report published today.

Although the report predicts that the Government is facing a deficit of €947 million this year, McCreevy is still insisting that by the end of the year the public finances will be in surplus.

The ESRI’s figure is €1bn greater than the Government’s projected figure of a €170 bn surplus.

A spokesperson for the Department is still insisting that they are confident that a surplus is achievable.

Minister McCreevy says he has difficulty with the ESRI’s forecast that current spending will overrun to the tune of €0.5 bn. He says neither he nor the Government will let that happen.

He also believes the ESRI overlooked Ireland’s reduced contribution to the EU in its predictions.