Dublin cuts growth forecast for year

Ireland cut its economic growth forecasts for 2012 in April 2012, blaming slower export growth as a result of a wider slowdown across the eurozone and continued weakness in its domestic economy.

But the Irish government insisted on the 27 April 2012 that it remained on track to meet its deficit reduction targets under its bailout programme with the European Union and International Monetary Fund and said it would continue to implement tough austerity measures.

Ireland forecast that gross domestic product will grow 0.7% in 2012, compared with a previous prediction of 1.3%.

ESO: Background information: Irish watchdog calls for more austerity http://www.europeansources.info/record/irish-watchdog-calls-for-more-austerity/

Irish Times, 27.4.12: Government lowers forecasts http://www.irishtimes.com/newspaper/breaking/2012/0427/breaking50.html

---