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Ireland's Revisings Future Economic Predictions

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And another economic fail, this time an attempt from Ireland to bury bad news on a royal wedding, later afternoon Friday:

Ireland revises 2011 GDP growth to +0.8% from +1.7%; 2012 to +2.5% from 3.2%

Irish govt revises 2013 deficit forecast to 7.2% from 5.8%; 2012 to 4.7% from 2.8%.

Ireland revises 2011 debt/GDP forecast to 111% from 98.6%; 2012 to 116% from 102%

Which only means more stimulus. And since fiscal is out of the question (austerity remember, duh) it means monetary. Which means gold surges to $1,566.

No surprises here really yet again another bailed out nation has to admit it's even more screwed that previous estimates. Still all they need is some debt to fix the problem.

Although no source is given to where this information has come from.

Edited by interestrateripoff

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The International Monetary Fund (IMF) on Monday made a downward revision to Ireland's economic growth this year, saying that the country's economy will grow by just 0.5 percent.

In December last year, the IMF predicted the Irish economy would grow by 0.9 percent in 2011. The IMF's prediction came immediately after an EU-IMF bailout loan for Ireland, worth 85 billion euros (115 billion U.S. dollars), was agreed in November.

It still doesn't come close to what the IMF predict.

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  • 311 Brexit, House prices and Summer 2020

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