Government's spending forecasts 'not realistic' - IFAC

Ireland business Coronavirus

26.05.2021 - 03:27

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The Irish Fiscal Advisory Council has said the Government's budgetary forecasts "lack credibility" and its spending forecasts are "not realistic".

In a report published today, the budgetary watchdog describes Government budgetary planning as "piecemeal". It says it is not providing realistic guidance to the public and is increasing the risks that things could go wrong.

However, when it comes to the prospects for the economy, the Fiscal Council is relatively upbeat and said it expects the economy to "bounce back" while it considers any risks as "broadly balanced".

When it comes to the Government's planning, IFAC is far from impressed and says the absence of realistic plans and targets leave the public finances "unanchored".

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Government's spending forecasts 'not realistic' - IFAC

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