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Ireland trims GDP forecasts on domestic, external challenges

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Ireland trims GDP forecasts on domestic, external challenges
FILE PHOTO: Construction cranes are seen in the Irish Financial Services Centre in Dublin, Ireland April 24, 2017. REUTERS/Clodagh Kilcoyne   -   Copyright  Clodagh Kilcoyne(Reuters)
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DUBLIN (Reuters) – Ireland trimmed its gross domestic product (GDP) forecasts for 2019 and 2020 on Tuesday, citing a more challenging external environment and moderation of some domestic indicators in recent months.

The finance ministry still sees Europe’s fastest growing economy expanding strongly with GDP rising 3.9 percent this year and 3.3 percent next, contributing to a higher budget surplus in both years.

The ministry forecast in January that if Britain had left the European Union in a disorderly manner on its original exit date of March 29, GDP growth could have slowed to 2.7 percent this year and around 1 percent next year.

(Reporting by Padraic Halpin)

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