Oireachtas Joint and Select Committees

Thursday, 4 December 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report - November 2014: Irish Fiscal Advisory Council

3:10 pm

Professor John McHale:

In the Department of Finance's forecast, if one looks beyond this year, it is conservative in what it assumes what the level of contract manufacturing will be next year. The 3.9% growth number is uncontaminated by the contract manufacturing issue. We see a broadening of growth to include domestic demand, but one needs to be cautious of the tearaway growth that might be suggested by the figure of 4.7%. However, that is not to take away the message that there is momentum ibecause there is real momentum in the economy.

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