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Economy

Ireland's newest think tank - the Nevin Economic Research Institute (NERI) -  has proposed a new €15 billion stimulus and investment programme aimed at creating jobs, boosting demand and aiding economic recovery. The ambitious proposal was outlined at the formal launch of the Institute in Dublin on March 27, 2012. Crucially, the programme of investment over five years will not add one cent to the Government debt or be an additional burden on the taxpayer.

The Quarterly National Household Survey conducted by the CSO, published February 14, 2012 shows that 30% of households headed by a person who is unemployed had borrowed money from family or friends to pay for basic goods and services. In addition, half of such households had missed paying household bills and more than one quarter had missed loan repayments.

According to Eurostat figures published on February 6, 2012, Ireland had the fourth highest ratio of government debt to GDP in the EU at the end of the third quarter of 2011 at 104.9%. This represents an increase of 16.5% over the third quarter of 2010, the third highest increase in the EU.

Is the Irish Government’s economic outlook for the period to 2015 credible given the Central Bank’s most recent forecast on economic growth? Social Justice Ireland has serious doubts in this regard.

 

The full document containing details of Ireland's Budget for 2012 which were leaked by the Gernamn Parliament may now be read here.  These documents were provided by the Irish Government to the EU Commission on a confidential basis. Of particular interest is the Memorandum of Economic and Financial Policies contained in this document.

The EU Autumn Economic Forecast makes stark reading for Ireland and poses serious questions about Government’s reliance on exports as the basis of Ireland’s recovery.  It also calls into doubt the basis on which Budget 2012 is being developed.

As the 20 group of the world's wealthiest counttries prepare to meet later this week, Social Justice Ireland believes that the endless focus on economic growth while failing to address issues ranging from sustainabiility to fair distribution to changing the basis on which a deeply flawe

Social Justice Ireland is deeply disappointed with some of the recommendations of the OECD’s latest report on Ireland.

The latest figures for GDP (Gross Domestic Product) per capita in EU Member States have been published by Eurostat.  They show Ireland's GDP per capita in Purchasing Power Standard (PPS) is 125% of the EU average. Only Luxembourg and the Netherlands arae higher.

The global recovery is becoming self-sustained and more broad based. The recovery is taking place at 
different speeds, between advanced and emerging economies, but also within the first group of 
countries. Unemployment remains high across most of the OECD countries. In most, headline inflation 
has risen strongly, and expectations are also drifting up; however, underlying inflation seems likely to 
edge up only slowly. Vibrant domestic demand growth, negative supply shocks and strong capital inflows 

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