Conor Lenihan
Ceist:197 Mr. C. Lenihan asked the Minister for Finance if he intends to revise his budget GDP and GNP growth forecast in view of the most recent information from the Central Statistics Office. [13366/03]
Written Answers. - Growth Forecasts.
On budget day my Department forecast real gross domestic product growth and gross national product growth of 3.5% and 2.2% respectively, in 2003.
The 2002 preliminary data published on 1 May by the Central Statistics Office indicate that the economy was growing more slowly in 2002, in GNP terms, than had been projected at budget time, last December. The CSO will publish its finalised annual economic growth estimates for 2002 not later than the end of July. At that stage, my Department will publish an up-dated forecast for GDP and GNP in the Economic Review and Outlook which is usually available in August. It is not normal practise to publish any revised economic estimates until then.