IMF Warns: Fix Spending, Tax More | Cork News

The IMF is sounding the alarm with a sobering economic forecast, projecting just 2.5% growth for the next two years—down from 5% last year—and urging the government to shift revenue focus from corporate taxes to income, VAT, and local property taxes. With spending running over budget limits, they’re demanding stricter controls and a binding medium-term spending plan. This comes on the heels of their role in the 2010 €67 billion bailout, and now they’re pushing for structural reforms to fix housing, boost energy security, and prepare for AI. Financial aid for struggling households must be short-term and targeted. Slower growth is expected to dampen private consumption as job gains and real incomes weaken. The Finance Minister admits external risks and domestic constraints, while the Public Expenditure Minister zeroes in on clearing infrastructure hurdles to drive housing and competitiveness. The IMF’s message? Fiscal discipline now, to future-proof the economy. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/41517ed01be547c3