Denis Foley
Question:57 Mr. Foley asked the Minister for Finance his views on the recent IBEC report which concludes that the economy may be facing a slowdown; and if he will make a statement on the matter. [11592/96]
Vol. 466 No. 4
57 Mr. Foley asked the Minister for Finance his views on the recent IBEC report which concludes that the economy may be facing a slowdown; and if he will make a statement on the matter. [11592/96]
The Irish Business and Employers Confederation — IBEC — publication Economic Trends—Quarterly Review, dated May 1996, contains estimates of growth for 1995 and forecasts for 1996 and 1997 as follows: GDP: 1995, +9 per cent; 1996, +6.3 per cent; 1997, +4.5 per cent.
With regard to the estimated 1995 outturn, the text states that "this is really a massive increase that can hardly be maintained over the medium-term". It also states that "looking further out to 1997, our own cycle of growth is likely to decelerate from the recent boom and we expect growth to fall to nearer the long-term trend of around 4 per cent."