The final cost to the Irish state of dealing with the fallout from the Covid-19 pandemic could be as high as €30 billion, according to an analysis by KBC Bank Ireland.
The bank had previously suggested that the fiscal costs could amount to up to €15 billion, much larger than the €6.7 billion that initial official estimates have suggested. "But it now seems likely that "respite" measures and the broader shortfall in in tax revenues could readily exceed this figure," chief economist Austin Hughes said in a research note today. "Our sense is that "reboot" measures on a scale likely to ensure a strong and speedy rebound could amount to a further €10-15 billion, implying the overall fiscal impact for Ireland of Covid-19 could be comfortably