Irish Economy: The ESRI (Economic and Social Research Institute), the publicly funded but independent economics think-tank, today in its latest Quarterly Economic Commentary, forecasts 2010 GDP (gross domestic product) growth at 0.25 per cent; GNP (gross national product – excluding profits of multinational sector) will contract 0.5 per cent and in 2011 GDP is expected to grow by 2.75 per cent, with GNP growing more slowly at 2.25 per cent. For 2011, the budget deficit will fall to 10.25 per cent of GDP. The General Government Balance, based on EU criteria will be €16.5bn and the expected Exchequer shortfall is €19.9bn.
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