asked the Minister for Finance the basis on which the Taoiseach predicted recently the growth rate for the economy in 1988 could be as high as 1 per cent; and if he will make a statement on the matter.
Written Answers. - Economic Growth Rate.
30.
In my Financial Statement of 27 January last, I indicated that real GDP growth in 1988 was projected to lie in the range of ½ to 1 per cent. I also said that the trend in GNP growth would depend on the level of net factor outflows, the outlook for which was subject to major uncertainties; but that if these flows were to show the same trend as in 1987, there would be positive GNP growth this year. As to the detailed basis for these projections, I would refer the Deputy to the document “Economic Background to the Budget 1988” which was published by my Department also on 27 January.