Ireland facing €30 billion deficit, as economic cost of coronavirus to be revealed

An almost deserted Patrick Street in Cork city last month. The true economic cost of the coronavirus in Ireland will be outlined tomorrow

The devastating impact of the Coronavirus on the economy will be laid bare to the Oireachtas Covid Committee tomorrow, with members to be told that Ireland is facing a deficit of €30 billion.

The Irish Fiscal Advisory Council is to advise that an adjustment of up to €14 billion will be needed to restore the public finances to balance.