National spending framework needed to safeguard Ireland’s public finances, IMF warns

International Monetary Fund said the 'uncertain nature' of corporate tax receipts called for a strong framework to safeguard Ireland's fiscal position

FILE - The logo of the International Monetary Fund is visible on its building, April 5, 2021, in Washington. Pakistan and the International Monetary Fund reached a preliminary agreement for the release of $1.1 billion from a $3 billion bailout following dayslong talks in Islamabad, the IMF said Wednesday, March 20, 2024. (AP Photo/Andrew Harnik, File)

The International Monetary Fund (IMF) has called for a national fiscal rule to safeguard the economy due to its heavy reliance on corporate tax receipts from a small number of multinationals. 

In a paper released on Wednesday, the IMF said Ireland faces significant spending needs to alleviate supply constraints and address long-term pressures.