Finance Minister Michael Noonan has conceded that growth in 2012 has turned out a bit weaker than forecast.
Speaking on the finance group of estimates, he said the 2012 budget had been based on a forecast of 1.3 per cent growth in gross domestic product.
"Since then, however, the indications are that growth will be a bit weaker, and most analysts have been revising downwards their forecasts over the past few months."
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