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Irish central bank chief urges government to target bigger fiscal surplus

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Irish central bank chief urges government to target bigger fiscal surplus

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DUBLIN (Reuters) - The head of the Irish Central Bank advised the government on Friday to target more ambitious fiscal surpluses for the next three years to ensure the rapidly growing economy does not tip into an "unsustainable overheating phase".

"In view of the prospect of further economic expansion during 2019-2021, a revision in the budget balance targets for 2019-2021 may be in order if a cyclically appropriate policy stance is to be attained," Philip Lane said in a speech.

"In particular, the projection of a general government deficit of 350 million euros in 2019 is not sufficiently ambitious, given the cyclical conditions."

(Reporting by Padraic Halpin; Editing by Hugh Lawson)

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