FX.co ★ Ireland to see balanced budget by 2018

Ireland will achieve a broadly balanced budget, for the first time in more than a decade, the country’s finance minister Paschal Donohoe said.

According to the Financial Times, the draft budget will be unveiled in mid-October, with strong GDP growth and labor market continuing to back the nations’ tax revenues.

Meanwhile, Ireland seeks approval to make early repayment of the remaining €4.5 billion of loans from the International Monetary Fund. In case the IMF approves the early repayment, the country will be included in the European Central Bank’s bond-buying program.

In 2010, Ireland’s deficit reached a record 32% of GDP, while in 2017 an insignificant deficit of 0.4% of GDP is expected.