The Government has submitted a five year economic plan to the EU setting out its spending projections as part of a process of much greater oversight of Ireland’s budgets. The Medium Term Fiscal and Structural Plan says each EU Government “will commit to a binding fiscal path as well as to a set of public […]
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Minister for Public Expenditure Paschal Donohoe has announced additional spending of €1bn above the figures published on Budget Day. The extra expenditure contained in the supplementary estimates relates to the Departments of Housing, Social Protection and Education for 2024. The measures were agreed at a Cabinet meeting today. Other additional spending had been announced earlier. […]
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Economists expect inflation rates to stay above the European Central Bank’s 2% target in the medium term, according to a survey published by Germany’s Ifo institute today, a day before the central bank holds its next monetary policy meeting. In the euro zone, economists expect inflation to reach 2.6% this year, according to the quarterly […]
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The Minister for Finance will seek Cabinet approval for a strategy that will make it a requirement for all Government departments and State bodies to accept cash or facilitate cash payments. Jack Chambers will tell Cabinet colleagues that cash remains the preferred form of payment for many people in society, particularly older people, and it […]
Read More… from All Govt departments, State bodies to accept cash under new strategy
Ireland’s pension system ranking has dropped to 18th place when compared with global peers, a new report shows. The Mercer CFA Institute Global Pension Index compares 48 retirement income systems, covering 65% of the world’s population. The Netherlands’ retirement income system retained the top spot on the list, with Iceland and Denmark remaining in second […]
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Demand for bank loans across the 20-nation euro zone rose in the third quarter and a further increase is expected in the final three months of the year, with household mortgages driving the expansion, a European Central Bank survey showed today. Lending growth has been hovering just above zero all year as high interest rates […]
Read More… from Euro zone banks see rebound in loan demand as rates fall – ECB
The average interest rate on new Irish mortgages remained unchanged for the third month running in August at 4.11%, new figures from the Central Bank shows today. The standstill comes despite a European Central Bank rate cut in June of 0.25%. It means that the average cost of a new mortgage in Ireland remains the […]
Construction activity contracted slightly in September, the fourth time it has decreased in the last five months. The BNP Paribas Real Estate (BNPPRE) Ireland Construction Total Activity Index fell to 49 from 50 a month earlier. Activity in the housing sector resumed expanding following a tiny dip in the previous month. It means that activity […]
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Ireland is to miss a deadline to transpose a new European Union cybersecurity directive into Irish law. The Network and Information Security Directive, or NIS2, is supposed to be adopted by EU Member States by 17 October. It requires organisations in both the public and private sector to boost their cyber defences. NIS2 expands the […]
A drop in energy prices has resulted in a significant fall in inflation which declined from 1.7% in the 12 months to August to 0.7% in September – the lowest level since March 2021. This means that prices are still rising on an annual basis, but they are doing so at a much lower pace […]
Read More… from Annual inflation falls to 0.7% – lowest since March 2021
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