‘Economy won’t show meaningful growth for two years’

The economy won’t show any meaningful growth for another two years; the unemployment rate hasn’t stopped rising and the country will not hit its budget deficit reduction targets by 2015, one economic commentator has stated.

In its fourth quarterly economic bulletin, economic think-tank, the Nevin Economic Research Institute, has predicted GDP growth of just 0.6% for 2013 and 0.8% for 2014.

The first time the economy will return to significant growth, it said, will be in 2015 when GDP growth of 1.8% is expected.