Noonan said the government was sticking by its economic forecasts of 1.5 percent growth in GDP next year, 2.5 percent in 2014 and 2.9 percent in 2015 despite imposing more cuts that suck money from the real economy. Economists say it's difficult to make such predictions for Ireland, which hosts nearly 1,000 high-tech multinationals and is exceptionally exposed by European standards to economic trends in Britain and the United States, its two major trading partners.Ireland has experienced little of the social or labor upheaval experienced in other debt-struck countries in part because of a government-brokered agreement between unions and employers, but that 2009 pact appears to be fraying at the seams, with many employers resisting unions' demands for scheduled pay increases.
Ireland Imposes 6th Straight Austerity Budget
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