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  • NEWS Desk Global

IRELAND LAYS OUT PLANS FOR 100 BILLION EURO SOVEREIGN WEALTH FUND

Ireland laid out plans in Tuesday's budget to turn some of the healthiest public finances in Europe into a 100 billion euro ($106 billion) sovereign wealth fund, while also announcing a raft of measures to ease current cost of living stresses.

Budget surpluses are a rarity in Europe following a jump in spending during COVID-19 but a surge in Irish corporate taxes paid by a small number of foreign firms snapped Dublin quickly back into a surplus of 2.9% of gross national income last year.

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