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Sunday 22 October 2017

Deficit-to-GDP to miss target

ECONOMISTS anticipate that Ireland will fail to meet its 3pc deficit-to-GDP ratio target in 2014, despite a number of hard-hitting budgets.

Its latest Economy Monitor from NCB Stockbrokers forecasts growth next year will be severely hit by the forthcoming Budget.

It said GNP would be 1.4pc and GDP 1.9pc in 2011 compared to its previously forecast 2.8pc and 3.3pc respectively.

It said the budget plan would be positive, if it was "wholly transparent, credible and includes all banking costs on the balance sheet." But NCB economist Brian Devine (above) has doubts.

"The risk is that the Budget is none of the above," he said.

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