Opposition calls for Govt action after 'challenging' environment prompts cut in economic growth

Opposition calls for Govt action after 'challenging' environment prompts cut in economic growth

Opposition parties are calling on the Government to take action after the forecast for economic growth was cut.

A slowing of the pace of growth in key export markets is being blamed for the revised estimate.

The Finance Minister Pascal Donohoe insists the Irish economy remains in a strong position

Yesterday the Government cut its economic growth forecast, citing a "challenging" external environment.

GDP is now expected to grow by 3.9% this year, down from the previous estimate of 4.2%.

The figures for next year have also been revised downwards.

The Finance Minister insists the economy remains in a strong position but he said we cannot be complacent

Sinn Féin's Finance Spokesperson Pearse Doherty accused the Government of basing the update on "unrealistic projections of the public finances".

Fianna Fáil's Michael McGrath said it is more important than ever the Government supports the indigenous enterprise sector.

He also said Ireland remains in a very vulnerable position if global economic factors turn against us.

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