"The extent of these effects really is dependent on the duration and intensity of the conflict and the scale of damage to critical infrastructure in the Middle East," the Central Bank's Director of Economics and Statistics Robert Kelly said. The bank said that the underlying deficit, when windfall gains paid by multinationals are excluded from the public finances, was set to double by 2028 as spending outpaces revenue collected by the State. Speaking on RTÉ's Morning Ireland, Mr Kelly said the Government's response to the energy crisis may become more constrained in future, as it has "less headroom to respond" when compared to a similar situation in 2022.
Author: David Murphy
Published at: 2026-03-26 00:00:01
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