Central Bank predicts 3% growth rate for 2002
The Central Bank has predicted that Ireland’s Gross National Product will grow by 3% next year, the same figure predicted by the International Monetary Fund yesterday.
The bank said the slowdown in the US economy, worsened by the attacks on the US in September, will have a knock-on effect in Ireland.
In an end-of-year report published today, the Central Bank said Ireland’s economy grew in the first half of this year, but came to a standstill in the latter half.
It also predicted that Ireland’s economy will not recover until the US economy regains strength.
