rte

YES!

Growth of 6.1 per cent would make Ireland the fastest growing economy in Europe this year “paving the way for income tax cuts in next week’s Budget”.

*uncorks Champagne sparkling wine*

Not so fast.

Via the IMF:

“In its flagship World Economic Outlook report, the Washington-based body cut its expectations for global growth to 3.3 percent this year and 3.8 percent next year. The IMF in July had expected economic growth of 3.4 percent in 2014 and 4 percent in 2015. The IMF has now cut its current-year growth forecasts nine out of 12 times in the last three years as it consistently overestimated how quickly richer countries would be able to pull free from high debt and unemployment in the wake of the global financial crisis in 2007-2009″.

Oh.

IBEC Must Have SA Different Crystal Ball (Gfmurphy101)

IBEC Predicts Spectacular Growth Of 6.1 Per Cent (RTÉ)

Thanks Ger Murphy

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20 thoughts on “Grow Up”

      2. Sam

        Because they are simply lobbying for tax cuts for their members, they are not an independent forecasting body.

  2. Rusty Shackleford

    Is the point here that Ireland can’t grow faster than the global average? Growth in the first half of the year was 5.8% in the first half of the year so it hardly seems a stretch off a low base.

  3. phil

    If IBEC are that confident then lets see some wage rises for their minimum wage staff first ….

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