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.

More on this topic

Limerick is once again coming up with some innovative new artistic ventures

Shane's death requires a public inquiry

Safe sex is best way to stop HIV

Blue moon now rising over Anfield

More in this Section

Cork cocktail bar to host London's renowned 'American Bar' at the Savoy

Indeed announces 600 new jobs for Dublin

Farmers to protest AIB AGM in Dublin

P&G hit as costs climb


Design/life: Aileen Lee profiles Andrew Pain of Black Hen Designs

Learning Points: School bullies grow up to be work bullies

Another day, another new label - will we ever reach ‘peak gin’?

Paul Linehan on his favourite books, music and the best gig he ever went to

More From The Irish Examiner