Oireachtas Joint and Select Committees

Tuesday, 8 October 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Macroeconomic Forecasting: Discussion with Department of Finance

8:20 pm

Mr. John McCarthy:

The Deputy is getting into firm-specific developments and the examination of specific drugs. One must appreciate that individual firms would be very reluctant to provide data as to the likely trajectory of production. In the absence of that data, it is difficult to forecast on such issues. I speak to colleagues across Europe all the time and none of them has to forecast on a firm level in the way we must, as we are so small and some of the multinationals are so large relative to GDP.