Austerity is 'not inevitable' after the pandemic, the Finance Minister has said. Paschal Donohoe says the country "will come out the other side" of the current crisis, and it will be possible to grow the economy again. He was speaking after the latest Exchequer returns show the country’s deficit rose to just over €14 billion in February, amid continued closures of large sectors of the economy and increased Government spending. VAT receipts are down 13% when compared to this time last year, while social protection spending was up €1.8 billion year-on-year Newstalk Breakfast, Minister Donohoe said Ireland "will beat" COVID-19. He said: “What will happen at the other side of it then is we will looking to rebuild employment and our economy.