asked the Minister for Finance if he accepts those forecasts of economic indicators projecting a recession in the United States in 1986; and, if so, the action he is taking in anticipation of the effects of such a recession on the Irish economy.
Ceisteanna — Questions. Oral Answers. - USA Recession Projection.
14.
The latest forecasts by the major international economic organisations for the US economy show that real output growth will decelerate slightly in 1986 compared with 1985. However, the downward trend in the growth rate is not viewed as the start of a new recession in the US economy but rather as an adjustment towards a more sustainable growth path.
Despite this slow down, the current outlook for the external economic environment is more favourable than that underpinning the national plan. As a result, no immediate corrective action or adjustment to the plan's overall strategy is called for. Furthermore, I would refer the Deputy to paragraph 1.10 of the plan which identifies the improvement in Ireland's competitive position as the most important domestic determinant of growth in sustainable employment within whatever external environment prevails.