GDP forecast cut after visit from troika

The Government has received a clean bill of health from the troika in its eighth review of the economy as part of the bailout programme.

“We are pleased to confirm that Ireland has successfully completed the 8th Review Mission and we continue to meet all of our targets. To date over 160 commitments have been fulfilled on time and we have drawn down some 80% of the funding,” said Finance Minister Michael Noonan, following the review.

Mr Noonan told a press conference that the department was “marginally” downgrading its 2013 growth forecast although there would be no change to the fiscal targets.