Economist rejects grim outlook

ONE of the country's top economists has rejected the popular view that the economy is a basket case and is headed for trouble.

Dan McLaughlin, chief economist for Bank of Ireland Treasury & International Banking, said the budget would be in surplus this year by 5.1billion, despite the dip in tax take.

Dr McLaughlin said the government deficit for the year would be about 200m due to a capital deficit of 5.3 billion.