Stephen asked the Minister for Finance:

Ireland’s expected date of exit from the excessive deficit procedure, that is, the year, and month if available, when it is estimated the deficit will become less than 3% of GDP; and if he will make a statement on the matter.

Ref No: 21777/12

Minister for Finance ( Mr Noonan) :

On the basis of my Department’s current budgetary forecasts, Ireland’s General Government deficit is expected to be below 3% of GDP in 2015.

The deadline for correcting the excessive deficit was extended to 2015 in December 2010 upon Ireland’s entry into the EU/IMF Programme of Financial Support.