Finance Minister Brian Lenihan has warned a sizeable chunk of 15 billion euro in savings over the next four years will be in December's Budget.
The Government said the target for 2011 will be revealed next month and stated cuts and taxation measures will hit people's living standards.
The massive figure - twice the initial estimate - was blamed on higher debt costs and predictions that the domestic and international economy will grow at a slower pace than first thought.
Mr Lenihan said: "The Government accepts that there must be significant front loading in relation to this figure in the Budget this year. Clearly for credibility purposes it has to be frontloaded."
The Cabinet met for around six hours to discuss December's budget and the four-year budgetary road map.
A statement issued after the meeting stated the Government decided on the 15 billion euro figure to ensure the budget deficit is slashed to the EU-agreed target of 3% of Gross Domestic Product, of the value of the economy, by 2014.
Mr Lenihan said the figure was based on an annual average growth rate of 2.75%.
The minister said EU economics commissioner Olli Rehn will travel to Dublin in the week beginning November 8 to brief opposition parties and the social partners. It is expected the four year plan will be published shortly after.
Speculation has been focused on the scale of the savings needed this year amid suggestions it could be as much as double the initial three billion euro estimate.
The Government said the figure would not be revealed until the four-year plan is published next month and warned delaying the pain was not an option.