Ireland: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland
June 17, 2019
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The Irish economy continues to expand strongly, benefitting from higher net exports by multinational enterprises and robust domestic demand. Accelerating wage growth reflects tight labor market conditions and inflation has started to pick up. Crisis legacies have diminished but some vulnerabilities persist. The outlook remains broadly positive, provided Brexit proceeds in an orderly manner. However, the economy operates near full capacity and an accelerating cyclical momentum could re-ignite a boom-bust dynamic. A no-deal Brexit represents the key downside risk, while escalation in global protectionism and sudden changes in corporate tax planning of multinational enterprises in Ireland could adversely affect the economy and public finances.
Subject: Banking, Corporate income tax, Credit, Economic sectors, Financial sector, Housing, Money, National accounts, Public debt, Taxes
Keywords: central bank of Ireland, Corporate income tax, CR, Credit, Europe, Financial sector, Global, government, headline inflation, Housing, housing supply strategy, IMF staff, Ireland, ISCR, liability positions vis-à-vis nonresident, potential GDP, welfare benefits system
Pages:
76
Volume:
2019
DOI:
Issue:
164
Series:
Country Report No. 2019/164
Stock No:
1IRLEA2019001
ISBN:
9781498319867
ISSN:
1934-7685
