Wednesday, October 12, 2005

Irish economy flexible for next budget - ESRI

RTE News:

According to the Government's Economic and Social Research Institute (ESRI) the current economic situation provides more flexibility than has been the case for recent budgets.

At a meeting today entitled Budget Perspectives the ESRI said immediate prospects for the Irish economy are quite positive with growth this year and next projected to be close to 5%.

The ERSI said that expansion in employment has been strong and tax revenues are buoyant. However some threats and uncertainties remain such as imbalances in the world economy, the chance that the strong performance of the Irish construction sector might suffer a set-back and the volatility of oil prices.

Speaking to RTE economics editor George Lee earlier today the ESRI's Alan Barrett said the Department of Finance is in a very comfortable position and should have room for some giveaways on Budget Day.

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