{
  "title": "Ireland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland",
  "publication": "IMF Staff Country Reports, June 11, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/06/10/ireland-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-567588",
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  "summary": "The 2025 Article IV Consultation discusses that the Irish economy has performed well and entered 2025 in a strong position. The domestic economy is projected to continue growing, albeit at a slower pace in a highly uncertain global environment.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The Irish economy \"has performed well and entered 2025 in a strong position.\"\n- The domestic economy is projected to continue growing, \"albeit at a slower pace in a highly uncertain global environment.\"\n- A \"broadly neutral fiscal stance with higher capital expenditure is appropriate in 2025 and the medium term.\"\n- Ireland needs to raise public investment to address \"housing and infrastructure deficits,\" but this should be implemented \"within an appropriate overall spending envelope, ensuring value for money.\"\n- Significant external downside risks to growth and public finances exist; these vulnerabilities stem from \"external trade and tax policy shifts.\"\n- The financial system \"has been resilient but systemic risks have risen in a highly uncertain global environment.\"\n- Mitigating policies are needed to guard against risks from geo-economic fragmentation, including:\n  - promoting cooperation in innovation between dynamic multinationals and domestic firms,\n  - improving infrastructure,\n  - continuing to engage in the EU to further strengthen the single market."
    },
    {
      "heading": "Key Findings",
      "content": "- Economic performance:\n  - Entered 2025 in a strong position.\n  - Growth expected to continue but at a slower pace given global uncertainty.\n- Fiscal stance:\n  - Recommendation of a broadly neutral fiscal stance in 2025 and the medium term.\n  - Priority to increase capital expenditure while maintaining an appropriate overall spending envelope and ensuring value for money.\n- Investment needs:\n  - Elevated public investment required to address housing and infrastructure deficits.\n- External vulnerabilities:\n  - Public finances and growth are vulnerable to shifts in external trade and tax policy.\n- Financial sector:\n  - Systemic risks have risen despite prior resilience of the financial system."
    },
    {
      "heading": "Risks and Scenarios",
      "content": "- External downside risks:\n  - Trade policy shifts and tax policy changes are identified as significant risks to growth and public finances.\n- Geo-economic fragmentation:\n  - Heightened global fragmentation increases systemic risk and necessitates policy responses to preserve economic integration benefits.\n- Financial stability scenario:\n  - While resilient to date, the financial system faces rising systemic risks in the current global environment."
    },
    {
      "heading": "Policy Recommendations",
      "content": "- Fiscal policy:\n  - Maintain a broadly neutral fiscal stance in 2025 and the medium term.\n  - Increase capital expenditure to address housing and infrastructure deficits within a constrained overall spending envelope and with strong value-for-money safeguards.\n- Structural and external-policy responses:\n  - Promote cooperation in innovation between dynamic multinationals and domestic firms to mitigate fragmentation risks.\n  - Improve infrastructure to support productivity and resilience.\n  - Continue active engagement in the EU to further strengthen the single market and reduce vulnerability to external shocks.\n\nInternational Monetary Fund. \"Ireland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland\", June 11, 2025.\n\n---\n\n Content in this bundle\n\n- 1irlea2025001-print-pdf\n  - 1irlea2025001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1irlea2025001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 11, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798229012768.002",
    "The Irish economy \"has performed well and entered 2025 in a strong position.\"",
    "The domestic economy is projected to continue growing, \"albeit at a slower pace in a highly uncertain global environment.\"",
    "A \"broadly neutral fiscal stance with higher capital expenditure is appropriate in 2025 and the medium term.\"",
    "Ireland needs to raise public investment to address \"housing and infrastructure deficits,\" but this should be implemented \"within an appropriate overall spending envelope, ensuring value for money.\"",
    "Significant external downside risks to growth and public finances exist; these vulnerabilities stem from \"external trade and tax policy shifts.\"",
    "The financial system \"has been resilient but systemic risks have risen in a highly uncertain global environment.\"",
    "Mitigating policies are needed to guard against risks from geo-economic fragmentation, including:",
    "Economic performance:",
    "Investment needs:",
    "External vulnerabilities:",
    "Financial sector:",
    "External downside risks:",
    "Geo-economic fragmentation:",
    "Financial stability scenario:",
    "Structural and external-policy responses:",
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