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Ireland registers sterling budgetary performance in 2012


Iphonista

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Jun 6, 2012
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4,200
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
 

zakalwe1

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Oct 3, 2008
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5,306
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.
 
D

Dylan2010

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

Dublin 4

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Joined
Feb 6, 2011
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12,993
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....

 

meriwether

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Joined
Dec 1, 2004
Messages
12,604
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%?
 

Dublin 4

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Joined
Feb 6, 2011
Messages
12,993
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...
 

Iphonista

Well-known member
Joined
Jun 6, 2012
Messages
4,200
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!
 

Iphonista

Well-known member
Joined
Jun 6, 2012
Messages
4,200
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....

Need a hug?
 

meriwether

Well-known member
Joined
Dec 1, 2004
Messages
12,604
It's called being economical with the reality.

"Challenges" alright- it's not so "excellent" out there - fukko...
So the 7.6% is correct?

Thats great.

You are now telling us that there are 'challenges' that may mean the 7.6% may move in the future (stunningly, its not a perpetual figure).

Thats reallly great. I'm sure no one was aware of them.

What we are also aware of however is that our deficit is currently lower than the ceiling imposed on us, which means (1) no immediate further austerity is required is meet the ceiling, and (b) this may mean we have budgetary headroom to put some money into the economy next time, which may help us meet these 'challenges'.

Any of the above incorrect?
 

meriwether

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Dec 1, 2004
Messages
12,604
Is this not a thread on how well the economy is doing?
Its a thread on how the budgetary deficit is lower than the imposed ceiling, which is a good thing.

Unless you're stupid, and think its a bad thing.

It also doesn't mean that the economy is now right as rain, which happily, no one suggested.
 

Dublin 4

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Joined
Feb 6, 2011
Messages
12,993
So the 7.6% is correct?

Thats great.

You are now telling us that there are 'challenges' that may mean the 7.6% may move in the future (stunningly, its not a perpetual figure).

Thats reallly great. I'm sure no one was aware of them.

What we are also aware of however is that our deficit is currently lower than the ceiling imposed on us, which means (1) no immediate further austerity is required is meet the ceiling, and (b) this may mean we have budgetary headroom to put some money into the economy next time, which may help us meet these 'challenges'.

Any of the above incorrect?
Stop trolling you lowlife.

The economy is not performing "excellently"

Get a life....
 

meriwether

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Joined
Dec 1, 2004
Messages
12,604
Stop trolling you lowlife.

The economy is not performing "excellently"

Get a life....

You haven't contradicted a single thing I've said ('excellent' was not my description, and even then, its context is clear) despite my prompting you to do so.

I don't think you're able to contradict anything I've said, to be honest.
 
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