Home > Ireland > Government reaffirms 2017 growth forecast at 4.3%

Government reaffirms 2017 growth forecast at 4.3%

Written by Business World, on 12th Jul 2017. Posted in Ireland

article headline

Ireland's new finance minister Paschal Donohoe reaffirmed on Wednesday an economic growth forecast for 2017 of 4.3% but said he would cut savings into a planned rainy day fund to 500 million euros from 1 billion euros.

Donohoe said he expected the economy to grow by 3.7% in 2018.

Donohoe's predecessor Michael Noonan last year pledged to save 1 billion euros a year in the new "rainy day fund" once Ireland's budget is balanced in 2019. Donohoe told Ireland's RTE radio he planned to cut that to 500 million euros to allow for more capital investment.

Donohoe said in a radio interview that the economy would grow by "around 4%" this year, but later clarified that his ministry still expected the economy to grow by 4.3". (Reuters)

Source: www.businessworld.ie

More articles from Ireland

image Description

Vectra to create 100 jobs in Dublin

Read more
image Description

Ryanair expects Easter strike in Ireland or Portugal

Read more
image Description

Irish economy to grow by 4.7% in 2018

Read more
image Description

Administration is the cause of Irish business losing 2.2bn per annum

Read more
image Description

Dublin docklands office investments for 10.8m

Read more