Ireland’s debt could return to near record levels

 

Ireland's debt could return to near record levels due to Covid-19.

The Irish Fiscal Advisory Council says it could reach 160 per cent of gross national income - up from 99 per cent in 2019.

In its latest financial assessment, it also warns it could take up to three and a half years for the economy to return to pre-crisis levels.

But IFAC chairman Sebastian Barnes says a scenario similar to the financial crash in 2008 can be avoided: