Despite an apparent stabilisation of the economy, the country still has a “mountain to climb” to restore its competitiveness, Taoiseach Brian Cowen said today.
Addressing a conference hosted by the Clonmel Chamber of Commerce today, Mr Cowen said signs of an improvement in the economy were evident from slightly better than forecast December tax figures and a slowing in the rate of increase in unemployment.
“While this stabilisation is welcome, the next stage is to return to export-led growth and independent commentators, including the ESRI, now expect the economy to start growing again later this year,” he said.
“There is no room for complacency – we still have a mountain to climb before we have restored our competitive position.”
Mr Cowen said if the country continued to make the required adjustments set out in the Budget it could “benefit from export-led growth as we did in the 1990s”.
To assist this growth the Government would publish new strategies for the IDA and the agri-food sectors, he said.