Irish Economy 2008: AIB Bank says Economy is facing significant challenges in 2008/2009; Tough budgets are required to maintain the public finances in a healthy condition
Jun 19th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy 2008: AIB Bank today says in an update on Ireland's economy: Where Does it Stand and Where is it Going?, that it is facing significant challenges in 2008/2009 including a marked slowdown in global growth, a sharply higher exchange rate, rising interest rates, tightening of credit conditions, a steep decline in housing activity, rising unemployment, weakening confidence and fiscal tightening. The bank says that tough budgets are required in 2009 and 2010 to maintain the public finances in a healthy condition.