Shane McEntee (Meath East, Fine Gael)
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Question 32: To ask the Tánaiste and Minister for Finance if he has had reason to modify his economic or public finance projections for 2008; and if he will make a statement on the matter. [7812/08]

Brian Cowen (Laois-Offaly, Fianna Fail)
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On Budget day, my Department projected a GDP growth rate of 3 per cent for this year and a GNP growth rate of 2.8 per cent. While lower than in recent years this is still a robust rate of economic growth given the prevailing international conditions.

A General Government deficit of -0.9 per cent of GDP in 2008 and a General Government debt level of around 26 per cent of GDP at end-2008 were projected in Budget 2008.

In aggregate terms the Budget day forecasts, both economic and fiscal which were presented to the House in December, have not changed.

Of course, as was noted at Budget time, there are risks, both internal and external, to the outlook and my Department will, as always, continue to monitor the situation closely. That said, it is important to remember that the fundamentals of the Irish economy remain strong and that the economy has responded quickly and effectively to changing economic conditions in the past.