Ireland: Staff Report for the 2001 Article IV Consultation
IMF Staff Country Reports, August 13, 2001
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- Ireland: Staff Report for the 2001 Article IV Consultation
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Bibliographic details
- Published: August 13, 2001
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451818734.002
Summary of findings
- "The performance of the Irish economy has been impressive."
- "The outlook is broadly favorable, but there are risks to achieving a smooth transition to a sustainable rate of growth."
- "The government's reform of the tax structure is commendable."
- To sustain high growth over the medium term, Ireland must address challenges with regard to:
- "wage determination,"
- "increasing competition," and
- "strengthening the medium-term basis of fiscal policy."
- "Strengthening competition through privatization and regulatory reform are key to securing a high rate of sustainable growth in the medium term."
Risks and challenges
- Transition risks to a sustainable rate of growth despite a broadly favorable outlook.
- Wage determination issues that could affect competitiveness and wage growth.
- Need for increased competition in the economy.
- Requirement to strengthen the medium-term basis of fiscal policy.
Policy recommendations and analysis emphasis
- Continue and build on the government's tax-structure reform.
- Strengthen competition through:
- privatization, and
- regulatory reform.
- Address wage determination mechanisms to support sustained competitiveness.
- Reinforce the medium-term fiscal framework to underpin sustainable high growth.