Michael Noonan says he has opened discussions with the Troika about how we leave the programme and that will form part of discussions on the next review in January.

Latest review

We have now passed 8 reviews and drawn down 80% of the funding.

For over a week now the Troika has been conducting the quarterly review of our bailout programme.

The Ministers for Finance Noonan and Public Expenditure & Reform Minsiter Brendan Howlin announced the successful completion of latest review of bailout programme in Dublin.

More than 160 commitments have now been met since we entered the bailout.

Growth & Expenditure

In a statement the Troika says “Ireland’s gradual economic recovery has continued, but largely due to weaker net exports, real GDP growth has slowed to a projected rate of  0.5% in 2012”.

It also cautions that “unemployment remains unacceptably high, especially among the youth, making job creation and growth a key priority”.

However the trio do say that we are expected to meet our fiscal targets this year and that revenues remain ahead of profile in the first 3 quarters of 2012.

Minister Noonan also says growth forecasts for next year will be revised downwards slightly but that it will not effect the commitments on the size of the deficit for 2013.

While Minister Howlin says our expenditure is in a very good situation.