The Central Bank’s cut growth prospects for the economy.
In its latest forecast it is still predicting growth of one-point-two percent in 20-13.
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But growth is predicted to more than double to two-point-five percent next year.
The bank blames weaker exports because of sluggish global demand, but it does say that better domestic demand will offset, somewhat, what could be a worse downgrade for this year.
Following the I-M-F’s assertion that Europe needs to help Ireland with a deal on bank debt, Chief Economist at the Central Bank, Lars Frisell, says that doesn’t mean a second bailout if that deal isn’t forthcoming:
