Ireland sees 38 billion euro bill for COVID-19 measures in 2020-1
26 Nov 2020 / 20:05 H.
DUBLIN, Nov 26 (Reuters) - Ireland expects to have spent a total of 38 billion euros ($45 billion) on COVID-19 measures by the end of next year, taking account of government plans to withdraw supports gradually, Ireland's Department of Finance said on Thursday.
That is the equivalent of 18.5% of national income, as measured by GNI*, which the Irish government considers the most accurate measure of the real economy, the department said in a report.
"Once an effective vaccine (or other therapeutics) is rolled-out and economic recovery more firmly entrenched, fiscal support must be withdrawn in a gradual manner," Finance Minister Paschal Donohoe said in a statement. ($1 = 0.8400 euros) (Reporting by Conor Humphries)
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