BREAKING NEWS

BREAKING NEWS

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

Disorderly Brexit would push Irish budget back into deficit - finance ministry
@ Copyright :
CLODAGH KILCOYNE(Reuters)
Text size Aa Aa

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)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.