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The Irish economy has continued to expand strongly, consolidating its post-crisis recovery. Nonetheless, uncertainty remains elevated and legacies of the financial crisis continue to threaten economic resilience. Fiscal prudence is required, given rising fiscal costs from ageing, emerging capacity constraints and international tax policy changes that could weaken tax receipts.
Following a property-led boom, Ireland was hit by a severe banking and fiscal crisis in 2008. Determined policy implementation has restored confidence and underpinned the strong cyclical recovery now underway. Ireland has come a long way in the past 5 years since it entered the EU-IMF financial assistance programme. Determined reform efforts by the government, both under the auspices of the programme and subsequently, have paid off. Ireland has emerged from the crisis with a much reduced and still declining fiscal deficit, public debt on a downward path, a stronger fiscal framework, a more sustainable fiscal revenue base, a restructured and recapitalised banking sector, a strengthened and more efficient public administration, and a much improved labour market activation regime. This has been rewarded by renewed access to financial market borrowing for both banks and the sovereign. Ireland successfully exited the financial assistance programme in December 2013. An important contributor to the success of the programme was strong ownership by Ireland itself. The government had already undertaken significant consolidation action in 2009-10. In addition, the programme was largely based on the 2010 Irish government's NationalRecovery Plan 2011-2014, with modifications introduced by the current government in 2011.
OECD's 2013 Economic Survey of Ireland examines recent economic developemnts, policies and prospects. This issue's special chapters cover youth employment and innovation.
Living standards are high in Ireland, with recent improvements underpinned by the strongest post-crisis output recovery in the OECD. The economy is projected to continue expanding over the next two years, albeit at a more sustainable pace and amid heightened economic uncertainty ...
The Irish economy weathered the COVID-19 pandemic and is coping well with the repercussions from Russia’s war of aggression against Ukraine. While the fiscal position is currently strong, with buoyant revenues, a number of pressures arising from ageing, housing, health, and climate change create fiscal risks in the longer term.
OECD's 2011 Economic Survey of Ireland examiens restoring fiscal sustainability, overcoming the banking crises and structural reforms to reduce unemployment and restore competitiveness.
This 1997 edition of OECD's periodic review of Ireland's economy examines recent economic developments, policies and prospects. It includes a special feature on the labour market and heatlh care.
This 2001 edition of OECD's periodic review of Ireland's economy examines recent economic developments, policies and prospects and includes special features on regulatory reform and structural policy and on making growth more environmentally sustainable.
This 2006 edition of OECD's periodic survey of Ireland's economy examines key economic challenges and risks faced by this rapidly-growing economy. The special feature focuses on boosting growth through greater competition. Other challenges covered ...