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Don't Fear the (Fiscal) Reaper
- Amid growing focus on political and fiscal risks in Europe, the Irish Budget retained the expansionary stance evident in recent years.
- The fiscal situation in Ireland could not be further removed from that in France, with the Government set to run a large budget surplus of 3% of GNI*, falling to 1.5% in 2026.
- Nonetheless, there are wider liquid financial buffers that the Government has built up, which are expected to total over €70bn by end-2025.
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