In this issue:
LRC proposals provide job security for lower paid workers
SIPTU members to oppose job losses at Killarney Golf Club
Body of miner killed in rock fall repatriated to the Philippines
Chomsky meets Vita Cortex workers
Thatcher leaves trail of destruction behind
Glenda Jackson speaks about Margaret Thatcher
1913 LOCKOUT - a new play by Ann Matthews
School pupils’ work on 1913 Tapestry celebrated
President says workers' rights must be at centre of rebuilt economy
Dublin youth projects bring campaign to the Dáil
Suspended Cork County Council workers return to work
SIPTU calls for immediate action on youth unemployment crisis
MANDATE Trade Union
Hands off Public Water
Thatcher leaves legacy of social destruction and economic collapse
NERI: 3% Troika deficit target unlikely to be achieved by 2015
IMF issues stark warning on challenges facing Ireland
Ireland linked to global web of tax avoidance
Global Labour Report
A terrible beauty! – Gaza
Congress welcomes Government commitment on domestic workers
Hugh Geraghty Memorial Lecture
Robert Ballagh Exhibition
Venezuelan Stories: In honour of Hugo Chávez
Jim Connell Society
Tadhg Barry Film
Galway Trades Unions 1913 - 2013
The James Plunkett Short Story Award
SIPTU Solidarity with Cuba Forum
Book Sale in aid of Docklands Senior Provider Forum
Larkin Credit Union
Supporting Quality Campaign!
SIPTU Basic English Scheme
Win a One4All Voucher Worth €250
Cycle Against Suicide
Discount for SIPTU members
Useful links
Send to a friend »Subscribe »Search past issues »Contact us »Print all articles »

siptu2

siptu4



Visit our website
NERI: 3% Troika deficit target unlikely to be achieved by 2015
 
On Wednesday (10th April) the Nevin Economic Research Institute published its latest Quarterly Economic Observer outlining the think-tank’s most recent set of projections for the Republic of Ireland economy. These suggest a period of low-growth and high-unemployment for the next three years and include:
  • Low GDP growth of 1% and 1.2% over the next two years, increasing to 2% in 2015;
  • a further shrinking of the numbers employed in 2013, by 0.6%, with employment levels remaining static in 2014 and 2015;
  • unemployment remaining at 14.7% in 2013 and marginally increasing to 15% in 2014 and 2015 as net outward migration releases pressure on expanding labour supply due to rising youth cohorts;
  • Ireland’s gross debt peaking at 121.1% of GDP this year and reducing marginally in 2014 and 2015; and
  • While it is anticipated that Government will exceed its deficit (or General Government Balance, GGB) target in 2013, given our current economic outlook, we do not expect Government to reach the 3% Maastricht target by 2015.
Commenting on these forecasts, NERI Director Dr Tom Healy said “The story behind these figures is one of continued stagnation with sluggish growth and on-going high levels of unemployment”.

NERI senior economist, Dr Micheál Collins, stated that the depressed nature of the domestic economy combined with a weak international economic outlook, presents real challenges for Ireland achieving any form of sustainable economic recovery.

“Without growth, Government’s borrowing targets look ambitious and call into question the feasibility of the adjustment path currently being pursued”, Collins said.
Facebook Twitter | Comment (0)
Newsletter Marketing Powered by Newsweaver