| 7.8°C Dublin

GDP forecast to grow

IRELAND'S GDP will jump by 0.8pc this year before stabilising to a healthy 1.5pc growth in 2015, it has been forecast.

However, Merrion Stockbrokers economist Alan McQuaid's latest quarterly economic outlook expects the jobless figure to reach 14.8pc by the end of 2012. And he said that the budget deficit will fall within the EU/IMF bailout target for this year.

Ireland is well positioned in goods and services that are holding up despite the downturn -- in particular pharmaceuticals. But until domestic consumption and investment pick up, the prospects for a durable recovery remain bleak, he said.