GOVERNMENT PREDICTS ECONOMY WILL GROW BY 4.5 PER CENT THIS YEAR
The government is now predicting the economy will grow by 4.5 percent this year – well up on the most recent estimates just last week of growth of 3 percent.
It is after the Central Statistics Office (CSO) published figures for the second quarter showing GDP up 7.7 percent since the same time last year, and GNP up 9 percent year on year.
The Finance Minister has confirmed the figures mean we can have a neutral budget next month, but he has warned against any clamour for giveaways.
Michael Noonan says the coalition will proceed with caution.
“We’ll budget prudently to secure the growth, to sustain the growth, to make people safe in their jobs, to encourage more people to go to work and…all those young graduates who are abroad – we need to get them back” he said.