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Finance | Irish financial status in international markets

To ask the Minister for Finance the extent to which Ireland can retain its A1 financial status in the international markets notwithstanding any challenges as yet unseen; and if he will make a statement on the matter.

Ireland enjoys an AA rating from all the major ratings agencies, with the exception of Moody’s, reflecting our track record of sound fiscal management.

As the Deputy alludes to, we are living in deeply uncertain times. We have emerged from an unprecedented pandemic and now face a new challenge as the Russian war in Ukraine has resulted in inflation at levels not seen in many decades.

However, I would also note that we have, supported by Government fiscal policy, experienced a remarkable recovery from the pandemic. There are now more people at work in Ireland than ever before, and, despite the many challenges we face, our economy remains fundamentally strong.

The best way in which we can maintain the confidence of market participants in these uncertain times is to keep our public finances on a sustainable pathway, rebuilding our fiscal buffers while intervening, when necessary, to protect our economy from external shocks.

Budget 2023 will strike the balance between providing support today and reinforcing our future stability, helping to ensure that we maintain our positive position in the markets.

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