Health spending could burden economy, warns IMF
The IMF has today warned that the cost of funding the health system poses a huge burden to the Irish economy that could lead to greater indebtedness in the coming years.
It stated that despite the 2008/2009 global economic crisis, many developed countries are still living beyond their means.
It also warned that governments will have to cut spending sharply in order to get a sustainable level of debt.
It said that Ireland, as a country with one of the highest debt levels, may have to reduce its fiscal deficit by more than 10% of GDP a year.
