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Ireland does not know what to do with the money, Dublin wants to invest the surplus of 8.6 billion euros

2024-09-04 13:54:22Lifestyle SHKRUAR NGA REDAKSIA VOX

Ireland does not know what to do with the money, Dublin wants to invest the

Ireland is expected to face a situation that is the envy of every other European country in the next state budget: a budget surplus of 8.6 billion euros and annual economic growth five times faster than last year. However, the decision to distribute this extraordinary wealth appears to have put officials in a very difficult position.

More than ten years have passed since the crisis that resulted in the intervention of the EU and the IMF with loans of 67.5 billion euros and unbearable austerity measures. However, the Irish government remains cautious on spending and insists it wants to save money wisely for future challenges in pensions, the environment and infrastructure.

But many economists point out that if Ireland does not invest the extra money now, it will miss an opportunity to solve the infrastructure problems that will jeopardize its future growth. According to them, the country is in dire need of public investment and it is a rare opportunity that Dublin can finance these changes itself. There are several 'wounds' that can be closed in the country, ranging from solving the housing crisis to solving the chronic problems of energy, water, public transport and medical care.

The large budget surplus expected for 2024 is the third in a row after €8.3 billion in 2023 and €8.6 billion in 2022, much of it due to increased tax revenue for Irish-based multinational companies, particularly those technological and pharmaceutical. The economy is booming in other areas as well.

Among other things, Ireland is also facing social issues, having been named as the 'loneliest' country in Europe, with almost a fifth of residents feeling lonely all the time and almost two-thirds of them experiencing anxiety or depression. Also, one in seven children live in poor families. Experts identify deficiencies in support for local enterprises, but also in long-term planning for the development of infrastructure projects.

However, wherever Ireland decides to channel the money, large surpluses are likely to continue to be recorded in the coming years.

 

 


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