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Ireland Approves 6.7 Billion-Euro Package to Help Cost of Living

July 4, 2022, 4:52 PM

Ireland’s government agreed a budget package of 6.7 billion euros ($7 billion) in order to help tackle rising energy and living costs.

The spending plans, announced in Monday’s Summer Economic Statement, will be funded through public spending of 5.65 billion euros over 2022 and 2023 and 1.05 billion euros in taxation measures.

The government will also provide 4.5 billion euros for temporary measures to provide humanitarian support for Ukrainian refugees and limited Covid-19 provisions, the Finance Ministry said.

Rising borrowing costs and higher public debt were taken into account in the plan, while risks include a worse than previously expected ...