Oireachtas Joint and Select Committees
Thursday, 11 June 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Fiscal Assessment Report: Irish Fiscal Advisory Council
2:00 pm
Professor John McHale:
The official measure of the state of the economy, which is referred to as the outward gap, is now slightly positive. The official measure would have the economy operating slightly above its potential. Our assessment is that there is probably still some excess capacity in the economy and there is a small but narrowing outward gap, in the sense that there is room for the economy to expand without unsustainable pressures building up.
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