The fourth review of the Extended Arrangement for Ireland can be read here. This is the updated IMF projection of the general government gross debt up to 2016.
In the third review the IMF had set a target of €7.4 billion for the primary exchequer deficit in June 2012. This target has now been revised to €9.0 billion.
The target this year had been €10.1 billion and the June 2011 outturn for the primary exchequer deficit was €8.4 billion. We can have a €0.6 billion deterioration in the primary exchequer deficit in the first six months of next year and still meet the IMF’s target.