Moody’s Ratings have changed Ireland’s outlook to positive from stable and affirmed Ireland’s Aa3 rating. Moody’s cite Ireland’s strong growth potential, robust institutional framework and proven resilience to external shocks as key determinants of the change to Ireland’s outlook.
The Minister for Finance, Jack Chambers T.D. said:
“I welcome the announcement by the Moody’s Ratings agency of the change in Ireland’s outlook to positive from stable and the affirmation of Ireland’s Aa3 rating. This reflects the resilience of our economy and the commitment of this Government to a balanced and sustainable approach to budgetary policy while continuing to invest in our public services and support households.
We know that our public finances continue to be exposed to volatile and unpredictable windfall corporation tax, and that we should not be using these windfall receipts to fund permanent expenditures. That is why the establishment of the two new long-term savings vehicles – the Future Ireland Fund and the Infrastructure, Climate and Nature Fund – are so critical and reflect the importance this Government places on ensuring that we prepare for the challenges that we know are ahead”.
