Ireland: 2016 Article IV Consultation and Fifth Post-Program Monitoring-Press Release; and Staff Report
IMF Staff Country Reports, July 28, 2016
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- Ireland: 2016 Article IV Consultation and Fifth Post-Program Monitoring-Press Release; and Staff Report
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Bibliographic details
- Published: July 28, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475517675.002
Overview and recent performance
- The rebound of the Irish economy has been described as exceptional.
- High frequency indicators suggest that growth momentum has continued in 2016.
- Solid job creation has reduced the unemployment rate below 8 percent.
- Inflation has hovered around zero as low commodity and food prices more than offset rising cost of services, particularly housing rents.
Growth projections and outlook
- Taking into account negative spillovers, real GDP growth is projected to decline to just below 5 percent in 2016.
- Growth is projected to converge to its estimated potential over the medium-term on the back of more moderate export growth and investment activity.
Subjects and keywords covered
- Subject: Banking, Credit, Expenditure, Financial institutions, Loans, Money, National accounts, Public debt
- Keywords: CR, Credit, debt, GDP revision, Global, IMF staff projection, Ireland, Ireland's Central Statistics Office, ISCR, liability positions vis-à-vis nonresident, Loans, money market rate, nominal GDP