Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The forecasting model used by my Department is as accurate as such models can be. If we have learned anything in regard to predictive models within the economy, it is that open economies are sophisticated, change quickly and have many moving parts. When discussing growth forecasts, I use approximate figures that are liable to change or are inside a certain range. Whether it be my own economic models or those made available to me by others, members must understand these things can change very quickly. However, the outputs from the models available to my Department have been endorsed by the Irish Fiscal Advisory Council.