Meanwhile, the prophecies of the doomsters remain as yet unfulfilled and the Irish economy continues to steam ahead. Despite persistent concerns about price and wage inflation, the Government's recent mid-year review painted a rosy picture of continued growth and rising employment. Gross national product (GNP) is expected to reach 7.5 per cent this year, while some 50,000 jobs should be created and the jobless rate is forecast to fall to 9 per cent. The outlook for the public finances also remains positive with the Exchequer surplus expected to be around 1.7 per cent of gross domestic product (GDP) or £700 million this year. This week's quarterly report from the ESRI forecast an even larger surplus of £1 billion this year, rising to £1.5 billion or 2.5 per cent of GDP next year.