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Disorderly Brexit would push Irish budget back into deficit - finance ministry

Disorderly Brexit would push Irish budget back into deficit - finance ministry
FILE PHOTO: Ireland's Minister for Finance Paschal Donohoe displays a copy of the 2019 budget on the steps of Government Buildings in Dublin, Ireland October 9, 2018. REUTERS/Clodagh Kilcoyne   -   Copyright  CLODAGH KILCOYNE(Reuters)
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DUBLIN (Reuters) – Growth in Ireland’s gross domestic product (GDP) could be 4.25 percentage points less than currently forecast by 2023 under a disorderly Brexit, and swing state finances back into a modest deficit from this year, its finance department forecast on Tuesday.

Ireland’s central bank warned on Friday that a no-deal Brexit could knock as much as 4 percentage points off the economy’s growth rate in its first full year and up to 6 percentage points over a decade.

“It is important to recognise that such estimates may not capture the full impact, and the figures may be conservative,” Finance Minister Paschal Donohoe said in a statement, citing the unprecedented nature of a disorderly departure by Ireland’s nearest neighbour.

(Reporting by Padraic Halpin; editing by John Stonestreet)

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