Business Irish

Tuesday 23 January 2018

Ibec increases its economic projections

Fergal O'Brien, Head of Economics and Taxation at IBEC
Fergal O'Brien, Head of Economics and Taxation at IBEC Newsdesk Newsdesk

Business group Ibec has improved its GDP forecast for the Irish economy this year, and now expects it to grow by 7.1pc.

While that is in line with the Government's own forecasts, the business lobby warned that the country needs to manage new problems that it believes will come with the recovery.

"A dramatic increase in both public and private investment is needed in housing, roads, public transport, education and health to avoid pressure points choking the positive economic momentum," the group said.

Ibec chief economist Fergal O'Brien said: "We have plummeting debt levels and staggering growth.

"We have yet to face up to the challenge this poses. It is vital we don't squander the opportunities we are now presented with," he claimed.

Irish Independent

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