Introduction The context for this year's Budget differs sharply from most of those in the past decade and a half. The global economy has been buffeted by crises in financial markets. Oil prices, even after recent falls, are at very high levels. Furthermore, the sharp decline in housing activity...

This chapter sets out a detailed Central Forecast for the Irish Economy for the period to 2003. It is based on the set of assumptions, described in earlier chapters, concerning the external environment, domestic economic policy and basic demographic trends. It represents the authors' best...