Ireland: Staff Report for the 2015 Article IV Consultation
IMF Staff Country Reports, March 25, 2015
Source details
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- Ireland: Staff Report for the 2015 Article IV Consultation
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Bibliographic details
- Published: March 25, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475531527.002
Summary findings
- Ireland enjoyed strong growth in 2014, at about 5 percent year over year, led by exports and investment.
- Solid job creation has brought the unemployment rate down to 10.5 percent, from a peak of 15 percent three years ago.
- Higher than expected growth in revenues helped bring the fiscal deficit down to an estimated 3.9 percent of GDP in 2014 despite some spending overruns.
Macroeconomic outlook (2015)
- Growth in 2015 is expected to remain robust, at about 3.5 percent, bolstered by the European Central Bank’s quantitative easing.
- Consumption is beginning to support activity, aided by the impact of falling energy prices on real incomes.
Labor market
- Unemployment: 10.5 percent in 2014 (down from a peak of 15 percent three years earlier).
- Job creation described as "solid" (no additional numerical breakdown provided in the source content).
Fiscal developments
- Fiscal deficit: an estimated 3.9 percent of GDP in 2014.
- Revenue dynamics: higher than expected growth in revenues contributed to deficit reduction despite some spending overruns.
Key statistics and metadata (as reported)
- Growth 2014: about 5 percent year over year.
- Unemployment 2014: 10.5 percent.
- Unemployment peak three years earlier: 15 percent.
- Fiscal deficit 2014: an estimated 3.9 percent of GDP.
- Growth forecast 2015: about 3.5 percent.
- Report pages: 63.
- Volume: 2015.
- Issue: 077.
- Series: Country Report No. 2015/077.
- DOI: https://doi.org/10.5089/9781475531527.002.
- ISBN: 9781475531527.
- ISSN: 1934-7685.
- Publication date on page: March 25, 2015.
Source: Ireland: Staff Report for the 2015 Article IV Consultation