FT.com / Europe - Ireland
Irelandís budget position looks set to worsen with figures due out on Monday showing this yearís deficit will be 11.9 per cent of national income not 11.6 per cent as previously expected.
Officials say the deterioration is the result of a slowing economy rather than a reduction in projected tax receipts.
It nonetheless increases the pressure on Ireland, the most fragile of the eurozone economies after Greece. It also adds to the headaches of the Fianna FŠil-led coalition as it prepares next yearís budget, which it will announce on December 7.
Brian Lenihan, the finance minister, said last month there would have to be a ďminimumĒ of Ä3bn ($4.1bn) of savings in this yearís budget, representing about 2 per cent of gross domestic product.