Sunday 28 May 2017

Good news but many problems

TWO encouraging reports, within 24 hours, on Ireland's handling of its economic crisis might be expected to swell the Government's collective head, were it not for the fact that the reports contain so many caveats and warnings that they might best be described as cautionary.

Ernst & Young's forecast that the Irish economy will be one of the fastest growing in the eurozone next year was tempered by warnings that unemployment, the highest in the eurozone, is likely to fall very slowly.

A report by the International Monetary Fund says that Ireland has stayed the course with its fiscal reform efforts, but warns that the Government's budgetary plans could be undermined by weaker than expected growth, making even tougher measures necessary.

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