Irish Economy: The Central Bank said today that the Irish economy is undergoing a modest recovery this year following an exceptionally deep and protracted decline in the previous two years. It forecast today an increase in GDP (gross domestic product) of about 0.8 % this year and a decline of about 1.0 % in GNP followed by growth in the range of 2.2 to 2.8 % in both measures in 2011.

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