Dáil Éireann Debate, Thursday - 28 February 2013
95. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he expects economic growth projections to be improved in the wake of the agreement in respect of the Irish Bank Resolution Corporation promissory notes; and if he will make a statement on the matter. [10920/13]
View answer104. Deputy Bernard J. Durkan asked the Minister for Finance the extent, if any, to which growth and competitiveness are affected by the agreement in respect of the Irish Bank Resolution Corporation promissory notes; and if he will make a statement on the matter. [10929/13]
View answerI propose to take Questions Nos. 95 and 104 together.
The agreement to replace the promissory notes with long-dated sovereign bonds will have many benefits for Ireland. From an economic perspective, one of the key benefits is in helping to restore confidence - the confidence of households, the confidence of firms and the confidence of the international community - although it is difficult, at this early stage, to quantify this. In that context, my Department will be publishing its revised macro-economic and budgetary forecasts in the Stability Programme Update in April. These projections will be informed by the economic and fiscal information that will have become available since the previous forecasts were published in December 2012.
