Forecasts: Economy will grow next year, says IBEC

IRISH business representative group IBEC has predicted that the economy will return to growth in 2011, despite the severe €15bn adjustment announced by the Government.

Chief economist Fergal O'Brien said that although the group has pared back the forecasts, they still see the economy growing by over 2pc.

IBEC noted that this time last year, the Government expected GDP to contract by 1.3pc during 2010, but it may now remain flat.

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