Investor Presentaiton

% Distortions to GDP/GNP make them poor indicators of economic performance 30 25 20 20 15 Substantial activity from multinationals in 2015/16 distorted the national accounts - makes GDP a sub-optimal measure of economic activity (see pg 27-30) 10 5 0 -5 -10 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 I Domestic Demand Gníomhaireacht Bainistíochta an Chisteáin Náisiúnta National Treasury Management Agency Net Exports I Change in Inventories Source: CSO; Department of Finance GDP Change Forecast 9

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