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Dail to debate economic reports from OECD and IMF
Friday, 3 July 2009
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The Dail is due to sit until 9pm this evening to facilitate a special debate about the two recent reports on the Irish economy from the OECD and the International Monetary Fund.
The two international organisations painted a gloomy economic picture for Ireland, which they say will suffer the worst recession in the developed world due to its over-reliance on the property sector in recent years.
The OECD has predicted an economic contraction of 10% this year, while the IMF has warned of a 13.5% contraction between 2008 and 2010.
The IMF report was also highly critical of the Government for stoking the property market in recent years and implementing unsustainable increases in public spending.
Tonight's debate on the reports will consist of various party spokespeople reading statements into the Dail record.
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