Seán Ryan
Question:152 Mr. S. Ryan asked the Minister for Finance the latest figures available to his Department on the level of economic growth for 2003 and the projected level for 2003; and if he will make a statement on the matter. [5368/03]
Written Answers - Economic Growth.
I published my latest forecast for economic growth for this year, as well as my forecasts out to 2005, in budget 2003. For this year as a whole, I expect GNP growth of 2.2% in real terms and GDP growth of 3.5%.
The moderation in growth from the very strong growth rates of recent years mainly reflects the deterioration in the international economic climate. Our objective in this context must be to remain competitive so as to be in a position to take advantage of the global recovery when it arrives.