McCreevy 2002 slowdown forces changes

The Minister for Finance Charlie McCreevy has said that the growth in Ireland's finances has been well below expectations this year.

This has had an adverse effect on the economy. He says that the 1.8% growth of GNP has been well below expectations.

Explaining his processes as Minister last year, Mr. McCreevy warned about the ambiguity of the economy's development.

He says that because there was little growth in the second half of 2002, changes must now be made.