The Department of Finance is putting aside €700,00 for economic consultants to implement the Government’s ‘medium term growth strategy’ announced before Christmas, the Minister for Finance Michael Noonan told the Oireachtas Finance Committee yesterday.

The Nevin Economic Research Institute forecasts that the economy will grow by 0.5% this year and 1.1% next year, with unemployment dropping to 10.4% by 2016, according to its latest Quarterly Economic Observer.