Thursday, December 17, 2009

Irish Republic out of recession as GDP grows


Figures just released by the government's statistics agency showed gross domestic product rose by 0.3% compared with the quarter before.

The figure indicates the country has pulled out of what was one of Europe's worst recessions according to the BBC.

How did they do it?

The government recently unveiled sharp cuts in spending to rebalance the country's finances. The country's budget contained ... severe cuts - to social welfare, investment, and even to the prime minister's own pay.