Ireland cuts two-year growth forecast

Ireland cut its growth forecast for 2013 and 2014 on the 14 November 2012, blaming slower export expansion caused by the difficult economic climate affecting its main trading partners.

However, the Irish government planned to press ahead with its austerity programme by implementing a further €3.5bn in tax rises and spending cuts in December 2012 to meet budget deficit targets in its bailout programme.

Irish Times, 15.11.12: Budget to bring no further austerity beyond €3.5bn already signalled http://www.irishtimes.com/

Ireland: Department of Finance: Medium-Term Fiscal Statement, November 2012 http://www.rte.ie/news/2012/1114/fiscalstatement.pdf

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