Budget 2024 breaks spending rules, warns Central Bank Governor 

Governor Gabriel Makhlouf said said he would have taken a “less expansionary” approach to this year's budget

Makhlouf said he appreciated the decision to create “rainy day funds” in relation to the announcement of the Future Ireland Fund and an infrastructure and climate fund.

The government’s decision to break its spending rules for a giveaway budget may drive up inflation and risk damaging investment in the country, according to central bank chief Gabriel Makhlouf.

Speaking in an interview from the IMF’s annual meeting in Morocco, Makhlouf said he would have taken a “less expansionary” approach and warned the fiscal package risks undermining efforts to cool inflation.