Growth forecasts are as reliable as our weather
The Irish economy doesn’t do moderation. It is beset with ups and downs, so it is vital we keep resources in reserve
Almost all forecasters expect the Irish economy to grow by an average of 3-4 per cent per year over the next five years or so. In European terms, this is a high growth rate and it ties in with the long-run average growth rate of the Irish economy.
Averages, though, can be deceptive. There have only been 19 years since 1960 in which the Irish economy has grown by between 2 and 5 per cent....
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