Sunday 23 July 2017

Brexit would be "manageable" for Ireland - Moody's

Britons are to go to the polls on June 23
Britons are to go to the polls on June 23
Gavin McLoughlin

Gavin McLoughlin

Ratings agency Moody's has downplayed the risk of a Brexit to Ireland's economy.

It said that though there would be negative effects, these would be "manageable".

"Ireland will continue to grow at above-trend rates over the next two to three years, on account of strong and sustained competitiveness gains and the large and expanding presence of high value-added multinational firms that have driven recent increases in exports," Moody's said.

The comments were made as Moody's lifted Ireland's credit rating to A3 - the seventh-highest rating it gives.

It said it was comfortable that Ireland's budget deficit would fall after the formation of the new minority government.

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