ireland economy expands further set to be fastest in eu
Last Updated : GMT 10:30:04
Arab Today, arab today
Arab Today, arab today

Ireland economy expands further, set to be fastest in EU

Arab Today, arab today

Arab Today, arab today Ireland economy expands further, set to be fastest in EU

Cows graze on land beside The Apple campus
Dublin - AFP

Ireland's economy expanded further in the second quarter of 2015, keeping the eurozone country on track to be the fastest growing in the EU for a second year, official data showed Thursday.

Irish gross domestic product -- the total value of all goods and services produced in the economy -- grew by 1.9 percent in the three months to the end of June, the Central Statistics Office said in a statement.

It was a slight slowdown however compared with the first quarter.

GDP had grown by 2.1 percent in the three months to the end of March, up from the previous forecast of 1.4 percent, the CSO added.

Ireland's economy accelerated by 5.2 percent last year, making Ireland the fastest growing economy in the European Union, a feat forecast to be repeated this year.

In 2013 Ireland became the first of the financially rescued eurozone countries to exit a bailout programme following a period of state spending cuts and tax rises.

"Ireland’s impressive recovery continued in Q2. And with the conditions in place for sustained rapid growth, it is set to remain the eurozone’s fastest-growing economy," said Jack Allen, European economist at research firm Capital Economics.

Finance Minister Michael Noonan said Dublin's objective now was to build upon the gains made in recent years and "secure the recovery".

He added: "The increase in economic activity is broadly-based – unlike in the past when activity was excessively concentrated in the construction sector. We are now seeing both domestic-facing and exporting sectors performing strongly."

Noonan also said exports were strong in the second quarter, growing by 13.6 percent.

Amid positive Irish economic data and better-than-expected tax receipts this year, Dublin is under increasing pressure to loosen its purse strings in next month's budget -- the final one before the next general election.

The coalition government made up of the larger centre-right Fine Gael party and the centre-left Labour party is committed to tax breaks and spending increases worth up to 1.5 billion euros. ($1.67 billion)

"We must act with a steady hand to carefully measure what we do and there's going to be no daft spending spree just because it's an election year," Noonan told reporters at Government Buildings.

"The extra resources which will come through from the growing economy will be used to reduce the debt and to reduce the deficit."

Prior to Thursday's data Dublin forecast growth of 4.0 percent for 2015, although this will be revised as analysts say that even if growth is flat in the second half of the year annual growth is now forecast at 5.7 percent.  

The European Commission has forecast growth for the EU at 1.8 percent and 1.5 percent in the euro area overall.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ireland economy expands further set to be fastest in eu ireland economy expands further set to be fastest in eu

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ireland economy expands further set to be fastest in eu ireland economy expands further set to be fastest in eu

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday