Irish Economy: IBEC says economy will return to growth in 2011 with GNP rising by 1.2% in 2011 and 3.4% in 2012
Nov 1st, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Economy: IBEC, the business group, said today the economy will return to growth in 2011 despite the greater than anticipated scale of the fiscal adjustments needed over the coming four years. GNP (gross national product) will grow 1.2% in 2011 and 3.4% in 2012 while GDP (gross domestic product with no adjustment for the profits of multinational operating in Ireland) will grow 2.2% and 3.1%. The forecasts for 2012 can be only guesswork and the outturn depends on the robustness of the international recovery in rich countries.