Public Expenditure Minister Brendan Howlin has told a conference in Dublin that the people of Ireland have lost sight of the depth of the economic crisis.

Brendan Howlin this morning opened discussions at Dublin Castle - with IMF chief Christine Lagarde and Finance Minister Michael Noonan due to take part later this afternoon.

The Minister said Ireland is moving towards a sustainable recovery - and will have some budget room for spending to meet "demographic pressures" and some Government priorities.

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Minister Howlin accused the public of losing touch with the scale of the financial catastrophe.

"The crisis was unprecendented, and I think that's something, certainly, that the people of Ireland have seem to have lost sight of - the depth of the crisis that faced this country in 2011," he said.

"I think [it was] probably the deepest crisis since the establishement of the European project."