The Irish economy will accelerate rapidly once the international climate improves, but only if Government spending is kept under control, the Taoiseach, Mr Ahern, has told Fianna Fáil members in Cork.
Urging the public to be patient, Mr Ahern said it was crucial that the right decisions are made now so that the State remains in a strong position to build for the future.
He went on: "All of the economic projections indicate that if we can hold the line, deliver responsible government and control public spending, this will give us the capacity to keep on a stable and upward economic growth path."
Speaking at a dinner for FF members in Cork North and South Central, Mr Ahern said: "We just have to be careful turning the bends and we will be back at full throttle on the open straight soon enough."
But tougher times will call for tough decisions, he accepted: "It calls for making no apologies for putting priorities first and other items into second place. The Government will do just that."
He sharply rejected the view that Fianna Fáil and the Progressive Democrats misled voters about the state of the public finances before the election.
"Because we were honest and because we were realistic we promised less - much less - than any of the other parties. They criticised us for not giving in to interest groups and making the same rash promises they did. Now the same parties who would have mortgaged our future, who would have undone all the progress our country has made, criticise Fianna Fáil for having misled the people.
"If the people were misled, it was not by Fianna Fáil. We can stand proudly behind our record", Mr Ahern told the function at the Silversprings Hotel.
