Market comment - Irish Fiscal Advisory Council fires a warning shot

Davy Research
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The Irish Fiscal Advisory Council (IFAC) looks set to criticise government spending plans in a new report tomorrow (June 11th) — specifically, medium-term plans are not credible. Nonetheless, ahead of an election likely in 2020, current EU fiscal rules will allow the Fine Gael led government to raise spending at a faster pace than the 2.6% currently pencilled into official projections for next year.