Central Bank Upgrades Economic Growth Forecast

CENTRAL BANK UPGRADES ECONOMIC GROWTH FORECAST

The Central Bank has changed its forecast for growth in the economy – saying it now expects it to outperform what it previously thought.

In it’s quarterly bulletin just published it says GDP of 4.1 percent is now expected for 2015 – up 0.3 percent on its previous forecast three months ago.

It’s also predicting growth of 4.2 percent next year – a full half a percentage point higher than previous forecasts.

The Central Bank says the Government does not need to do anything to stimulate growth and says extra revenues should be used for debt reduction rather than for any pre-election giveaway.

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