Irish Economy: ESRI says modest growth will return in H2 2010; Budget deficit will be -12.8% of GDP in 2010 despite big cutbacks
Oct 13th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: The Economic and Social Research Institute (ESRI) in its latest Quarterly Economic Commentary, forecasts GNP to fall by 8.7 per cent in 2009 and by 1.7 per cent in 2010. In GDP terms, the corresponding figures are -7.2 per cent for 2009 and -1.1 per cent in 2010. The Institute forecasts that growth will return in the latter part of 2010 - - H2 2010 - - although at a very modest pace. The ESRI forecasts a budget deficit (General Government Balance) of -12.9 per cent of GDP in 2009 and of -12.8 per cent in 2010, despite big cutbacks.