Government in ‘dream world’ as outlook worsens

THE Government was accused of living in a “dream world” last night after once again having to change its economic projections because of the worsening public finances.

In January, the Government predicted that its total borrowing requirement for this year would be circa 9.5% of gross domestic product (GDP) or roughly e18bn.

Department of Finance figures released yesterday, however, now put the projected borrowing requirement at 12.75% or e23bn.