P. J. Sheehan
Question:87 Mr. Sheehan asked the Minister for Finance if he will outline the anticipated rates of inflation for 1991; and if he will further outline his views on the impact the Gulf war will have on the Irish economy.
Written Answers. - Economic Outlook.
I have already outlined my assessment of the economic outlook for 1991 on budget day. As regards inflation, I said that the rise in consumer prices this year should be quite close to 3 per cent.
The effects on growth prospects of the Gulf war are inherently unpredictable. In taking account of the Gulf situation in my economic and budgetary projections, I had regard to the views of two major international forecasting agencies. Given the uncertainties, it is doubly important that we are prudent in the way we manage our affairs. But, as I said in my budget speech, if the imponderables should develop unfavourably, the Government will not be slow in taking whatever action is needed.