Noonan: Recession over but don't celebrate, tough budget ahead
on 19/09/2013 13:02:52
The CSO said the economy grew slightly in the second quarter of the year - by 0.4% between April and June.
Michael Noonan said the quarterly national accounts show exports reaching an all-time high -in terms of value and volume- in the second quarter of this year.
His department will now publish a revised set of forecasts in the middle of October with the Budget, which will take account of today's figures.
He said that despite the progress next month's budget will still be a tough one.
"It's a striking piece of news…so we can build on it but there is no reason to be throwing our hats in the air or anything like that," he said.
"It's still going to be quite a difficult budget but it does give us the kind of foundation on which to build the budget and the strategy for exiting the programme."
Meanwhile the Taoiseach has said the figures will not have that much bearing on the budget.
Enda Kenny said although the figure is welcome it is not as high as the Government would have liked.
"Projections for growth are of real importance," he said. "It's encouraging, certainly, but clearly we have a long way to travel."
The Minister for Health, James Reilly, has also commented on the possibility of some small concessions for young families in the budget.
"I would like to think that in the budget there might be some little things in there to help those who have found it particularly difficult - parents of young families paying mortgages who have seen their income hit in so many different ways," he said.