Menu
11/11/2009
Government 'Optimistic' Over Economic Outlook
Figures released by the Department of Finance today suggest the government has a growing optimism for next year's economic growth forecast.
In its Pre-Budget estimates, released this morning, the Department forecasts the economy to contract by 7.5% this year and by a further 1.5% next year.
Although the figures predict a continuing decline, they are still an improvement on April's figures when Minister for Finance Brian Lenihan forecast that the economy would contract by some 8% this year.
However, despite the more positive outlook, unemployment is still expected to rise, and it is thought the level may reach around 13.75% in 2010.
Also according to the estimates, the Budget deficit will reach 12% of Gross Domestic Product, but only if the government achieves the savings of €4bn, which it intends to make in the much anticipated December budget.
Next month's budget is expected to be one of the toughest in Irish history, with sweeping changes expected to welfare payments, the minimum wage, and public sector pay.
It is as yet unclear whether the recent improvement in economic outlook will soften the government's hand in next month's economic reforms.
(DW/KMcA)
In its Pre-Budget estimates, released this morning, the Department forecasts the economy to contract by 7.5% this year and by a further 1.5% next year.
Although the figures predict a continuing decline, they are still an improvement on April's figures when Minister for Finance Brian Lenihan forecast that the economy would contract by some 8% this year.
However, despite the more positive outlook, unemployment is still expected to rise, and it is thought the level may reach around 13.75% in 2010.
Also according to the estimates, the Budget deficit will reach 12% of Gross Domestic Product, but only if the government achieves the savings of €4bn, which it intends to make in the much anticipated December budget.
Next month's budget is expected to be one of the toughest in Irish history, with sweeping changes expected to welfare payments, the minimum wage, and public sector pay.
It is as yet unclear whether the recent improvement in economic outlook will soften the government's hand in next month's economic reforms.
(DW/KMcA)
Related Irish News Stories
Click here for the latest headlines.
08 August 2014
Fine Gael Welcomes ESRI Report
The latest report from the Economic and Social Research Institute (ESRI) has been welcomed by Fine Gael. They have described it as a "testament to the policies implemented under the current Government.
Fine Gael Welcomes ESRI Report
The latest report from the Economic and Social Research Institute (ESRI) has been welcomed by Fine Gael. They have described it as a "testament to the policies implemented under the current Government.
23 September 2015
Govt To Invest €30m In Rural Towns And Villages
The Government is to invest €30m in rural towns and villages between 2016 – 2021, Ministers Alan Kelly and Ann Phelan announced on Tuesday.
Govt To Invest €30m In Rural Towns And Villages
The Government is to invest €30m in rural towns and villages between 2016 – 2021, Ministers Alan Kelly and Ann Phelan announced on Tuesday.
29 April 2009
Unemployment To Reach 17% By 2010
The Economic and Social Research Institute says Ireland Could be facing an unemployment rate of 17% by 2010. The forecast suggests another 300,000 Irish jobs will be lost before economy starts to recover. Ireland's gross national product is expected to fall by 9.2% as production falls due to the high levels of unemployment.
Unemployment To Reach 17% By 2010
The Economic and Social Research Institute says Ireland Could be facing an unemployment rate of 17% by 2010. The forecast suggests another 300,000 Irish jobs will be lost before economy starts to recover. Ireland's gross national product is expected to fall by 9.2% as production falls due to the high levels of unemployment.
01 September 2011
ESRI Calls For Budget Cuts To Increase
A think tank report has called for the government to go beyond the €3.6bn savings required, in order to reduce the deficit more rapidly. Through research the Economic and Social Research Institute (ESRI) has said the international situation has become more challenging as the recovery in the US and the UK has slowed down.
ESRI Calls For Budget Cuts To Increase
A think tank report has called for the government to go beyond the €3.6bn savings required, in order to reduce the deficit more rapidly. Through research the Economic and Social Research Institute (ESRI) has said the international situation has become more challenging as the recovery in the US and the UK has slowed down.
11 December 2013
€47.7m Unlocked For Disadvantaged Communities
€47.7m is being allocated to the Local and Community Development Programme (LCDP) in 2014. Community and Local Government Minister Phil Hogan has announced the funding, which is expected to enable 44,000 people to engage in one-to-one interventions to assist in returning to employment and sustain 650 jobs in Local Development Companies.
€47.7m Unlocked For Disadvantaged Communities
€47.7m is being allocated to the Local and Community Development Programme (LCDP) in 2014. Community and Local Government Minister Phil Hogan has announced the funding, which is expected to enable 44,000 people to engage in one-to-one interventions to assist in returning to employment and sustain 650 jobs in Local Development Companies.
-
Ireland WeatherThis Evening and Tonight:Quite cloudy across all counties at first but a few late sunny spells most likely towards Down and Antrim. Clearer skes becoming more widespread later this evening and overnight. Minimum temperature 5 °C.
