Main Irish opposition party would boost Rainy Day Fund


  • World
  • Wednesday, 22 Jan 2020

FILE PHOTO: Ireland's Minister for Finance and Public Expenditure Paschal Donohoe arrives at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne

DUBLIN (Reuters) - Ireland's main opposition party Fianna Fail, leading in opinion polls before a Feb. 8 election, will boost annual contributions to the state's Rainy Day Fund if elected in an attempt to further shield the treasury from potential future shocks.

Ireland's Fine Gael-led government outlined plans for the contingency reserve in 2016 that was initially capitalised last year by transferring 1.5 billion euros ($1.7 billion) from the country's sovereign wealth fund.

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