Ireland tops EU with forecast growth of 4.6%
European Commission vice-president announces ‘Ireland is coming back’
German chancellor Angela Merkel acknowledges the need for greater investment to stimulate EU economies as they struggle with high unemployment and slow growth. Photograph: Getty Images
In its autumn economic forecast, the commission upgraded its growth estimates for Ireland next year, forecasting that gross domestic product will grow by 3.6 per cent in 2015, compared to the 3 per cent predicted six months ago.
Announcing the forecasts for the EU’s 28 member states yesterday, commission vice-president Jyrki Katainen singled out Ireland’s performance. “Even though the medicine was very bad-tasting, very hard for ordinary citizens . . . now Ireland is coming back,” the former Finnish prime minister said. “Ireland, by doing what was necessary to do, has regained confidence back, which means that private investors can trust in the country’s future . . . which means more jobs for the ordinary citizens.”