Minister for Finance Michael Noonan said the Government may require a larger fiscal adjustment than currently planned next year if it wants to return to markets in 2013.
"Deficit and debt numbers serve to highlight the importance of continuing to implement budgetary and economic policies to return sustainability to our public finances," he told the Oireachtas finance subcommittee in Dublin today.
"This is vital if we want to be in a position to return to sourcing funding from international financial markets at appropriate rates of interest as soon as we possibly can, and before the EU- IMF Programme of Financial Support comes to an end."
He also said an adjustment larger than the €3.6 billion planned for next year is "something that will have to be considered" by the Government.
"The task of restoring sustainability to the public finances will be a long one and further difficult choices will have to be made in this regard in Budget 2012," he said.
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