Our medium-term forecast for the period 1991-96 is
for a pattern of resumed, steady growth in GNP, after a
temporary slow-down this year. The average rate of
growth should be in the region of 3.5% per annum, a
slower growth than was anticipated prior to the downward
revisions of the prospects for the world economy
made over the last two years. In particular, the rise in
German interest rates, consequent on unification, has
reduced the prospective Irish growth rate in the
medium-term by 0.5%
