Business Irish

Sunday 23 October 2016

Ireland’s A+ rating maintained by ratings giant Standard & Poor’s

Published 04/12/2015 | 17:47

Ratings agency Standard & Poor's
Ratings agency Standard & Poor's

Ratings giant Standard & Poor’s has maintained Ireland’s A+ rating, forecasting the economy will grow by 4pc on average out to 2018.

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In its latest assessment of Ireland, S&P said it did not expect the Government’s “pre-election” giveaways in the Budget to derail it from its targets.

“The expansionary measures announced so far are within our current base case, and the additional spending on health care should cover at least part of the recurring overruns in the sector,” it said.

“However, continued upward pressure on public sector wages and the further unwinding of emergency measures implemented during the financial crisis will weigh on future budgets.”

It forecast GDP growth of about 6pc this year, compared with an average of 0.9pc for the Eurozone.

“We project that unemployment will continue to decline toward pre-crisis levels over 2016-2018, and that net emigration will revert toward zero by year-end 2016. The demographic outlook for Ireland is considerably more benign than for most other European peers.”

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