Lenihan: 'Light at the end of the tunnel' for economy
Ireland’s economy has reached a turning point and will begin growing again next year, Finance Minister Brian Lenihan declared tonight.
In an upbeat forecast, Mr Lenihan said the downturn would continue into 2010 but would not be as bad as had been earlier predicted – contracting by 1.5% as opposed to 3%.
By the middle of next year the economy will have turned the corner away from the crippling recession, he signalled.
Falling prices were already making the country more able to compete with others on the world stage, according to the Government’s pre-Budget outlook statement.
“There is light at the end of the tunnel,” he said.
“There are encouraging signs, but that does not absolve us from taking the essential steps that must be taken to ensure that the whole economic structure of this country is placed on the road to recovery.”
| Related Stories: |
|
