Written Answers. - Accuracy of Economic Growth.

Batt O'Keeffe

Question:

29 Mr. B. O'Keeffe asked the Minister for Finance if the publicised growth rate in the economy is an accurate figure. [5932/96]

Yes. The estimates for economic growth in 1995 and the forecasts for 1996 as published in last January's budget are based on a very careful and thorough assessment of the latest information available at the time on domestic and international economic developments.

The composition of growth in 1995 was better balanced than in most years. Not only was there are a considerable increase in exports last year but the domestic economy, through growth in personal consumption and in investment, made a considerable contribution. The outlook for 1996 is for another year of strong, well-balanced growth.

The forecasts for 1996 are being kept under review and, as usual, will be updated in the light of new information.