Oireachtas Joint and Select Committees

Tuesday, 6 October 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Macroeconomic Forecast for 2016: Department of Finance

5:45 pm

Mr. John McCarthy:

I could not do that right now, but I could try to answer the Deputy's question by pointing to a number of things we do. If one looks at the stability programme, we carry out a sensitivity analysis and we give a baseline scenario for our macroeconomic outlook and then we say it is a conditional forecast based on growth of x% in the US and y% elsewhere. We then ask ourselves what would be the situation if world growth was 1% higher or 1% lower?

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