|After its robust rebound in 2014, the Irish economy is projected to continue growing strongly during the next two years. The expansion of activity will continue to be driven by business investment and exports. Employment growth and falling unemployment will take away spare capacity and moderately raise price and wage inflation.
The strong cyclical recovery needs to be complemented with continuing structural reforms to increase competition, raise innovation, make it easier to start and grow a business, and improve the relevance of vocational training to the labour market. Fiscal policy has prematurely shifted from consolidation to stimulus. If government revenue is higher than budgeted this should be put towards reducing still-high public debt more rapidly.
Note: All data definitions based on internationally comparable standards and may differ in specific cases from common national definitions.
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