Dáil Éireann Debate, Tuesday - 4 November 2014
326. Deputy Billy Timmins asked the Minister for Finance if the revised growth figures for 2015 for the German economy have any implications for growth figures announced on budget day 2015; and if he will make a statement on the matter. [41794/14]
View answerIn conducting our Budget forecasts my officials use the latest international growth forecasts for key trading partners - the UK, US and euro area. For Budget 2015, the OECD Interim Economic Assessment, published on 15 September, was used.
The OECD forecasts for the euro area are based on the German economy growing by 1.5 per cent in 2014 and in 2015, representing a downward revision from its previous forecasts set out in May. The latest OECD forecasts is in line the International Monetary Fund's World Economic Outlook, published on 7 October but slightly below Germany's own forecast of 1.8 per cent in 2014 and 2.0 per cent in 2015, which was released as part of its Draft Budgetary Plan in October - unchanged from its April Stability Programme Update forecast.
