Growth rate expected to hit 5%

FINANCE Minister Brian Cowen is to boost his Budget day economic growth forecast in a forthcoming economic review.

In his Budget the minister forecasts GNP growth of 4.7% and that is expected to be pushed up to 5% when he publishes his department’s Economic Review and Outlook later this month.

In a statement yesterday the minister said he noted the ESRI’s revised figure for GNP of 5.4% for this year.