Ireland considers sovereign wealth fund

map-of-ireland

Ireland’s finance minister has proposed that the country create a sovereign wealth fund to manage its budget surpluses.

Michael McGrath presented a paper on the subject to the Irish cabinet on May 9. The finance ministry forecasts the country will run a cumulative budget surplus of €656 billion ($712 billion) over the next three fiscal years.

The government projects the budget surplus will reach 3.4% of gross national income this year, and 5.4% in 2024. It said any fund would be run by the

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