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Thread: Ireland registers sterling budgetary performance in 2012

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    Default Ireland registers sterling budgetary performance in 2012

    Of course, the story has been ignored by the doom-mongers of Politics.ie but in terms of budgetary arithmetic, Ireland registered an excellent performance in 2012. While the troika set a target of a budget deficit of 8.6% of GDP, the country easily beat it recording a shortfall of 7.6% - a full 100 basis points better than the target.

    If there are any crumbs of "comfort" for the doom-mongers, it lies in the performances of other peripheral nations with Portugal, Spain and Greece sinking deeper into trouble. All three countries saw their budget deficits rise last year as revenue and their economies continued to shrink.

    The Department of Finance is forecasting a deficit of 7.4% of GDP. This seems a little conservative. Surely we should be building on the successes of the last couple of years and aiming for something more radical like 5%?

    Government deficit for 2012 comes in at 7.6% - RTÉ News

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    Politics.ie Member zakalwe1's Avatar
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    total debt to gdp ratio is also falling, to 118%.

    spain is on 84% approx so i wouldn't be so quick to write them off.
    italy is on 127%. greece and portugal are not sitting so pretty.
    I liberate minds with my music. That's more important than liberating a few people from apartheid or whatever. - Kanye West

  3. #3
    Dylan2010
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    guy jumps off a 20 storey building, half way down he exclaims "everything ok so far!"

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    Politics.ie Member Dublin 4's Avatar
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    Great - so Croke Park 2 The Sequel is fixed?

    No repos in the offing then?

    1/2 of SME's in loan arrears have coughed up?

    Prop & Water taxes cancelled?

    Unemployment & Emigration fixed?

    Bank losses turned around?

    Wake me up when you finished spinning & spoofing....


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    Quote Originally Posted by Dublin 4 View Post
    Great - so Croke Park 2 The Sequel is fixed?

    No repos in the offing then?

    1/2 of SME's in loan arrears have coughed up?

    Prop & Water taxes cancelled?

    Unemployment & Emigration fixed?

    Bank losses turned around?

    Wake me up when you finished spinning & spoofing....
    What exactly is he spinning and spoofing? The figure of 7.6% is the figure of 7.6%. It is what it is. It is less than 8.6%.

    There are still a multiple of challenges out there, some of which you have listed. They may, in the future, negatively affect the 7.6% figure. Or we may resolve them, or other advantages we have may mitigate their affect.

    But where is the spinning and spoofing?

    Is he lying about the 7.6%?

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    We are in a recession with 14% unemployment and record emigration.

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    Quote Originally Posted by MacCoise2 View Post
    We are in a recession with 14% unemployment and record emigration.
    STOP PRESS.

    This is new news.

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    Politics.ie Member Dublin 4's Avatar
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    Quote Originally Posted by meriwether View Post
    What exactly is he spinning and spoofing? The figure of 7.6% is the figure of 7.6%. It is what it is. It is less than 8.6%.

    There are still a multiple of challenges out there, some of which you have listed. They may, in the future, negatively affect the 7.6% figure. Or we may resolve them, or other advantages we have may mitigate their affect.

    But where is the spinning and spoofing?

    Is he lying about the 7.6%?
    It's called being economical with the reality.

    "Challenges" alright- it's not so "excellent" out there - fukko...

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    Politics.ie Member Fritzbox's Avatar
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    Quote Originally Posted by MacCoise2 View Post
    We are in a recession with 14% unemployment and record emigration.
    We've had higher unemployment and emigration in living memory.

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    Quote Originally Posted by zakalwe1 View Post
    total debt to gdp ratio is also falling, to 118%.

    spain is on 84% approx so i wouldn't be so quick to write them off.
    italy is on 127%. greece and portugal are not sitting so pretty.
    Wow I missed that detail. Even better!

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