Very ambitious growth targets over four years

THE Government has set extremely ambitious growth targets for the economy over the four years of spending cuts and tax increases proposed in the National Recovery Plan 2011-2014.

The Government envisages average annual growth of 2.7% over the four years: 2011/ 1.75%; 2012/ 3.25%; 2103/ 3%; 2014/ 2.75%. Underpinning this is the assumption that exports will grow by an average of 4.63% over the four years.

The Government predicts that the growth in GDP “will bring the unemployment rate below 10% by 2014.”