Arab Today, arab today ireland slashes 2012 growth forecast to 07
Last Updated : GMT 16:55:51
Arab Today, arab today
Arab Today, arab today

Ireland slashes 2012 growth forecast to 0.7%

Arab Today, arab today

Arab Today, arab today Ireland slashes 2012 growth forecast to 0.7%

Dublin - AFP

Ireland on Friday slashed its growth forecast for this year to 0.7 percent from last December\'s budget estimate of 1.3 percent as depressed consumer demand drags on the eurozone economy\'s recovery. The government also revised the 2013 growth forecast from 2.4 percent gross domestic product expansion to 2.2 percent. \"The government is keenly aware that the near term remains challenging and that there are very real risks to the forecasts due to the economic uncertainty within the eurozone,\" Finance Minister Michael Noonan said. Ireland\'s economy -- battered by a property market collapse -- returned to growth in 2011 and Noonan said financial data for the first four months of the year had been \"relatively positive\". \"The Irish economy returned to growth in 2011, the first time since 2007; the State\'s underlying deficit for 2011 was 9.4 percent of GDP, significantly ahead of the target of EU/IMF target 10.6 percent of GDP; and the State\'s revenues are increasing,\" he said in a statement. Ireland had to seek an 85-billion-euro ($112-billion) rescue package from the European Union and the International Monetary Fund in 2010, when massive debt and deficit problems left it on the verge of collapse. Noonan said the deficit target of 8.6 percent of GDP for 2012 was on track because of the \"likelihood that non-tax revenues are likely to be higher and debt servicing expenditure lower than estimated at budget time.\" On Thursday, the latest quarterly review of the Irish economy by the European Commission, International Monetary Fund and European Central Bank -- or Troika -- said fiscal targets for 2011 were met with \"a healthy margin\". The Troika said Ireland still faced \"considerable challenges\" and forecast economic growth would remain \"modest in 2012, at around 0.5 percent\". Under EU rules, member states are supposed to keep their annual public deficit -- the shortfall of revenue to spending -- at no more than 3.0 percent of GDP. Ireland will put the EU\'s new fiscal pact treaty, designed to prevent future eurozone crises, to a referendum on May 31.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ireland slashes 2012 growth forecast to 07 Arab Today, arab today ireland slashes 2012 growth forecast to 07

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ireland slashes 2012 growth forecast to 07 Arab Today, arab today ireland slashes 2012 growth forecast to 07

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday