Tuesday 25 October 2016

5.4pc growth this year


The economy will expand by 5.4pc this year, business lobby group Ibec has forecast in its latest economic report.

Ibec predicted growth of 4.8pc just three months ago. While the body tends to be among the most optimistic watchers of the Irish economy, its recent predictions have often been closer to reality than many other organisations.

Ibec, headed up by Danny McCoy (right), said a combination of favourable exchange rates, quantitative easing and lower oil prices will push growth higher and push unemployment below 9pc this year.

However, they warned, that the Government still has limited room for fiscal manoeuvre.

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