Menu
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)
Related Irish News Stories
Click here for the latest headlines.
08 August 2014
Fine Gael Welcomes ESRI Report
The latest report from the Economic and Social Research Institute (ESRI) has been welcomed by Fine Gael. They have described it as a "testament to the policies implemented under the current Government.
Fine Gael Welcomes ESRI Report
The latest report from the Economic and Social Research Institute (ESRI) has been welcomed by Fine Gael. They have described it as a "testament to the policies implemented under the current Government.
15 May 2009
Economic Recovery Expected By 2011
The Irish economy could return to an average annual economic growth rate of 5% between 2011 and 2015, according to an independent economic group of experts. However, the Economic and Social Research Institute (ESRI) specified that the growth depends on a quick recovery in the world economy.
Economic Recovery Expected By 2011
The Irish economy could return to an average annual economic growth rate of 5% between 2011 and 2015, according to an independent economic group of experts. However, the Economic and Social Research Institute (ESRI) specified that the growth depends on a quick recovery in the world economy.
11 January 2016
Fáilte Ireland Predicts Tourism Increase In 2016
Irish Tourism is expected to increase by 6% in 2016, Fáilte Ireland has announced. The agency predicts a rise in tourism would generate €8 billion in additional revenue. However, it warned a lack of hotel rooms in Dublin is one area to be improved upon, estimating around 5,000 extra units are needed. Overall, 7.
Fáilte Ireland Predicts Tourism Increase In 2016
Irish Tourism is expected to increase by 6% in 2016, Fáilte Ireland has announced. The agency predicts a rise in tourism would generate €8 billion in additional revenue. However, it warned a lack of hotel rooms in Dublin is one area to be improved upon, estimating around 5,000 extra units are needed. Overall, 7.
01 September 2011
ESRI Calls For Budget Cuts To Increase
A think tank report has called for the government to go beyond the €3.6bn savings required, in order to reduce the deficit more rapidly. Through research the Economic and Social Research Institute (ESRI) has said the international situation has become more challenging as the recovery in the US and the UK has slowed down.
ESRI Calls For Budget Cuts To Increase
A think tank report has called for the government to go beyond the €3.6bn savings required, in order to reduce the deficit more rapidly. Through research the Economic and Social Research Institute (ESRI) has said the international situation has become more challenging as the recovery in the US and the UK has slowed down.
11 July 2013
Union Urges Govt To Increase Minimum Wage
Both the national minimum wage and social welfare payments should increase in the autumn budget, the Unite trade union has said. The union is calling on the government to make the increase in an effort to encourage spending.
Union Urges Govt To Increase Minimum Wage
Both the national minimum wage and social welfare payments should increase in the autumn budget, the Unite trade union has said. The union is calling on the government to make the increase in an effort to encourage spending.
-
Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
