Fianna Fáil says the Irish economy will grow at an annual rate of 4.5% over the next 5 years

Finfacts Team:

Fianna Fáil has launched its economic policy for the next five years, which the party says will lead to a debt free nation.

Their policy document Protecting Prosperity, The Next Steps Forward was launched by Taoiseach Bertie Ahern and Minister for Finance Brian Cowen. (The FF website had not been updated with launch material at time of this news report.)

The document, which outlines how the party will fund many of its election promises, is designed to bring Ireland close to a zero net debt in five years time.

Fianna Fáil says it can achieve economic growth of 4.5% annually over the next five years if it is re-elected to power. Public spending is forecast to grow at a 6% annual rate compared with 12% currently.

The party also said it could increase employment by 2.5% per annum.

Central Bank issues optimistic outlook for Irish economy