Wednesday 26 October 2016

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

Published 16/05/2016 | 07:28

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

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

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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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