Despite increased political uncertainty across the world Ireland’s economy has continued to perform well since our last report. Total employment is rising by 2.9 percent per annum and the number of people at work has surpassed 2m for the first time since 2008. Because of reduced unemployment the public finances continue to improve. The deficit has shrunk from 1.9% of GDP in 2015 to an expected 0.9%
this year, while the gross debt ratio has fallen from 78.6% of GDP to an expected 76.0%. Looking ahead, forecasting institutions have trimmed their growth projections for Ireland – mainly as a result of Brexit. Nonetheless, a simple average of GDP projections suggests that growth of around 4.3% will be attained this year, with continued expansion of 3.4% in 2017 and 3.1% in 2018.
Source : Savills