Michael McGrath (Cork South Central, Fianna Fail)
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Question 83: To ask the Minister for Finance the implications, if any, of the decline in GDP and GNP recorded in the fourth quarter of 2011 on his budgetary projections for 2012; and if he will make a statement on the matter. [17481/12]

Michael Noonan (Limerick City, Fine Gael)
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The forthcoming Stability Programme Update will contain updated economic and budgetary forecasts for this year and for the period 2013-15. Officials from my Department are currently assessing the implications of the quarterly national accounts data, published last week by the CSO, for the 2012 budgetary projections. This, along with other information that has become available since Budget time and the economic and fiscal data to be published in the next few weeks, will inform the Department's forecasts. The Stability Programme Update will be published at the end of April.