The Minister for Finance, Charlie McCreevy, is questioning the findings of the ESRI report published today.
Although the report predicts that the Government is facing a deficit of €947 million this year, McCreevy is still insisting that by the end of the year the public finances will be in surplus.
The ESRI’s figure is €1bn greater than the Government’s projected figure of a €170 bn surplus.
A spokesperson for the Department is still insisting that they are confident that a surplus is achievable.
Minister McCreevy says he has difficulty with the ESRI’s forecast that current spending will overrun to the tune of €0.5 bn. He says neither he nor the Government will let that happen.
He also believes the ESRI overlooked Ireland’s reduced contribution to the EU in its predictions.