IBEC hoping for boost from bank debt deal for 2013

IBEC has said employers are increasingly optimistic about their prospects for 2013.

The group's latest sentiment survey published today highlights an improvement in business confidence, despite the Government's tough budget.

Chief economist with IBEC, Fergal O'Brien, said there is light at the end of the tunnel.

Mr O'Brien said: "Ireland still isn't delivering the kind of growth rates that we need to really get over our debt problems.

"We would like to see the economy growing by at least 3% per year, but I don’t think that is possible for the Irish economy. Unfortunately it is not going to happen in 2013.

"In terms of a confidence boost for next year it would be very significant if we could get a deal on Irish debt at a European level. I think this would help both consumer confidence and business confidence in terms of getting small companies up and down the country spending and investigating again.":