Deficit ‘will not reach 2015 target’
In its outlook for the Irish economy in 2012, which was published yesterday, Goodbody said it has downgraded its forecast for growth this year, claiming the economy will only grow by around 0.7%, rather than the 1.2% it previously anticipated last September.
It said that by the target date of 2015, the country’s deficit would at best only be around 5% of GDP. Within that estimate, Goodbody expects the interest costs will rise to over 6% of GDP and 17% of total Government revenue.
