World Economy

Irish Growth to Continue

Irish Growth  to ContinueIrish Growth  to Continue

The International Monetary Fund has warned Ireland not to take its economic growth momentum for granted, adding while growth is set to continue it will be at a slower pace, RTE reported. “The medium-term outlook remains positive. Healthy growth is expected to continue, albeit at a moderating pace,” Michele Shannon, outgoing head of IMF’s Ireland mission team said as her delegation completed its latest post-bailout review. While Brexit represents “the most pressing and far-reaching challenge for Ireland”—particularly for tourism, export and agri-related businesses—Shannon stressed the need for a broader-based tax base and stronger financial buffers to counter changes to international corporate tax policies being proposed in the US and across the EU. She said while Ireland’s financial crisis repair work is “progressing”, it remains incomplete. One of the main domestic concerns of the IMF remains the growing housing crisis. Coinciding with fresh CSO data—showing another sharp rise, of 9.6%, in annualized residential property prices in March—the IMF said housing pressures have risen and the rapid increase in prices “calls for close monitoring”.


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