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30/09/2015
Ireland's GDP To Grow In 2015 - ESRI
Ireland's GDP is expected to grow 6% in 2015, according to the Economic and Social Research Institute (ESRI).
In its Quarterly Economic Commentary, the think tank also forecasted a 4.5% growth in the economy for 2016.
Declines in unemployment are also expected, with a fall to 9% by the end of 2015 and 8% by the end of 2016.
In lieu of the forecasted growth, the ESRI has advised to government to adopt a neutral budget to avoid inflating the economy.
Dr Kieran McQuinn, one of the reports authors, said: "We believe the pace of growth has accelerated in the economy and we now forecast an increase in GDP of 6 per cent this year and 4.5 per cent in 2016. A notable feature of economic performance this year has been the increase observed in personal consumption indicating that households are finally beginning to experience the recovery."
Co-editor Dr David Duffy added: "In our view the increase in the pace of economic growth reinforces the case for a neutral budget this year. As the economy is now growing strongly, we do not see any macroeconomic rationale for stimulating further the level of economic activity."
(LM)
In its Quarterly Economic Commentary, the think tank also forecasted a 4.5% growth in the economy for 2016.
Declines in unemployment are also expected, with a fall to 9% by the end of 2015 and 8% by the end of 2016.
In lieu of the forecasted growth, the ESRI has advised to government to adopt a neutral budget to avoid inflating the economy.
Dr Kieran McQuinn, one of the reports authors, said: "We believe the pace of growth has accelerated in the economy and we now forecast an increase in GDP of 6 per cent this year and 4.5 per cent in 2016. A notable feature of economic performance this year has been the increase observed in personal consumption indicating that households are finally beginning to experience the recovery."
Co-editor Dr David Duffy added: "In our view the increase in the pace of economic growth reinforces the case for a neutral budget this year. As the economy is now growing strongly, we do not see any macroeconomic rationale for stimulating further the level of economic activity."
(LM)
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