Ireland’s Noonan Says Will Cut Growth Forecast by Almost Half

Ireland’s economy will grow this year at about half the pace forecast by the government in December, Finance Minister Michael Noonan said.

Irish growth may be about 0.75 percent this year, Noonan said in an interview with Dublin-based broadcaster RTE today, down from a December estimate of 1.3 percent. In its sixth review of Ireland’s bailout program, European and international authorities said that while the country is on track to reach its fiscal deficit target, “considerable challenges” remain.