NERI repeats call for investment programme to boost growth

Wednesday 11 December 2013 19.06
Nevin Economic Research Institute predicts economic growth of 0.5% this year
Nevin Economic Research Institute predicts economic growth of 0.5% this year

The Nevin Economic Research Institute has again called for an investment programme to bolster economic growth using the €6 billion Strategic Investment Fund.  

The institute said that while it expects some pickup in investment next year, more could be done to boost the domestic economy if the Government and other agencies made better use of the Ireland Strategic Investment Fund.

This is the money left in the Pension Reserve Fund.

In its latest economic outlook it expects economic growth of 0.5% this year and 1.1% next year.

This is lower than the Government's 2% projection because of ongoing budget cutbacks, a weakening export market and shrinking pharmaceutical sector as well as the big personal debt overhang.

Meanwhile, the managing director of the International Monetary Fund, Christine Lagarde, has said European countries must 'jump start' economic growth with investment and job creation.

She is also urging states to prioritise job creation for unemployed youth.  

The IMF will publish a book on how to boost European economic growth in January.