Central Bank predicts 3% growth this year

The Central Bank has predicted economic growth of 3% for this year.

In its annual report, the bank said that 2001 was a challenging year for the Irish economy, but it expressed optimism about the future.

It said the 3% growth predicted for this year could rise to 5% in the medium term.

However, the bank also urged prudence and called for wage restraints and action to tackle inflation in an effort to protect the economy and jobs.