Seanad debates

Tuesday, 18 February 2003

Finance and Related Matters: Statements.

 

I do not know where growth is going and neither does anyone else. Certainly it is dropping, but I do not know how low it will go. However, I want to say one thing about inflation levels. Ireland is still developing and growing and it is the case in any economic model that as long as our growth is faster than the growth in the other member states of the European Union, so also will be the inflation rate because these patterns are always cyclical. As growth decreases this year to 0.5%, 1% or 2%, it will interesting to see if the inflation rate decreases also. The indications are that it will.

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