Ivan Yates
Ceist:98 Mr. Yates asked the Minister for Finance if his Department has revised forecasts for growth and inflation and tax revenues for 1993 in view of the improving economic external circumstances.
Written Answers. - Economic Forecasts and Tax Revenue Estimates.
The Department's latest economic forecasts and tax revenue estimates for 1993 were published in February in conjunction with the budget.
Domestic developments since February have been broadly positive, with interest rates moderating more rapidly than anticipated and inflation more subdued, pointing to the prospect of a lower increase in consumer prices of the order of 3 per cent this year. This indicates that economic activity might be stronger than seemed likely in February. External developments have been more mixed, however.
A revised economic forecast, based on international prospects — which are currently being reviewed by the OECD and the EC — and on emerging domestic developments such as the foregoing, will next be provided in Economic Review and Outlook, as is customary.