Ireland: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland

June 28, 2018

Preview Citation

Format: Chicago

Ireland: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Summary

This 2018 Article IV Consultation highlights that the Irish economy continues to grow at a rapid pace, well above the European Union average. Although headline data are distorted by the volatility of multinationals’ activity, the broad recovery of (modified) domestic demand (4 percent in 2017) underpins the expansion. Strong labor market performance brought the unemployment rate down to below 6 percent by April 2018. Although wage pressures emerged in some sectors, inflation remained subdued, mainly reflecting the pass-through of pound sterling depreciation. Public finances continued to improve on the back of strong output growth, while the public debt burden declined slightly to 68 percent of GDP. The outlook remains broadly positive but with externally-driven downside risks.

Subject: Banking, Corporate income tax, Housing, Housing prices, Income, Mortgages, National accounts, Prices, Public debt, Taxes

Keywords: Corporate income tax, CR, Crisis legacy issue, Demand pressure, Global, Government, Government priority, Headline inflation, Housing, Housing demand, Housing prices, Income, ISCR, Labor market condition, Liability positions vis-à-vis nonresident, Market, Proceeds, Public finance

Publication Details

Pages:

78
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/194
Stock No:

1IRLEA2018001
ISBN:

9781484363744
ISSN:

1934-7685

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