Economy to be €500m better off

ECONOMISTS are forecasting the State will be at least €500 million better off at the end of the year than Finance Minister Brian Cowen’s Budget predictions.

In a report yesterday Alan McQuaid of Bloxham Stockbrokers says the deficit for the year will be between €400m-€500m less than the forecast figure of €2,927m projected in Budget 2006.

Davy Stockbrokers’ chief economist Robbie Kelleher said the exceptional nature of the January exchequer figures were glossed over last week due to the publication of the Finance Bill.