Irish Budget 2010: Money value of activity in Irish economy to be massive 32% lower in 2010 than was expected in December 2007
Dec 10th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Budget 2010: The money value of activity across the Irish economy is set to be a massive 32% lower in 2010 than was expected in December 2007 - - just two years ago - - according to KBC Ireland economist Austin Hughes. Meanwhile, Ulster Bank economists say that the Minister for Finance certainly faced an unenviable task. The idea of trying to take some €4bn, equivalent to 2.5% of GDP, out of an economy contracting at a record pace with the unemployment rate at a near 15-year high must be every politician’s nightmare. But in fairness to the Minister, he did deliver on the required adjustment.