Ireland: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Ireland

International Monetary Fund

No 2019/164, IMF Staff Country Reports from International Monetary Fund

Abstract: The Irish economy continues to expand strongly, benefitting from higher net exports by multinational enterprises and robust domestic demand. Accelerating wage growth reflects tight labor market conditions and inflation has started to pick up. Crisis legacies have diminished but some vulnerabilities persist. The outlook remains broadly positive, provided Brexit proceeds in an orderly manner. However, the economy operates near full capacity and an accelerating cyclical momentum could re-ignite a boom-bust dynamic. A no-deal Brexit represents the key downside risk, while escalation in global protectionism and sudden changes in corporate tax planning of multinational enterprises in Ireland could adversely affect the economy and public finances.

Keywords: ISCR; CR; government; Ireland; headline inflation; housing supply strategy; central bank of Ireland; liability positions vis-à-vis nonresident; welfare benefits system; IMF staff; potential GDP; Corporate income tax; Housing; Financial sector; Credit; Global; Europe (search for similar items in EconPapers)
Pages: 76
Date: 2019-06-17
New Economics Papers: this item is included in nep-mac
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