Ireland’s economy to be the fastest-growing in EU this year

According to the European Commission data, Ireland is set to register the fastest-growing economy in 2016

The Irish economy is predicted by the EC figures to increase by 4.9% during 2016, 0.4% more than the estimated growth three months ago.

The European Commission report on the matter quotes:

“The Irish economy appears resilient to the recent deceleration in world output. GDP growth is forecast to remain strong but to settle to more sustainable rates in 2016 and 2017, supporting improvements in the fiscal position over the forecast horizon. Nevertheless, the still high levels of public and private debt, and the uncertainty surrounding external economic and policy developments invite some caution”.

Moreover, for 2017, the European Commission has estimated a 3.7% further economy boost.

The forecast for Ireland exceeds the Eurozone average growth of 1.6%, as Germany’s economy, the largest one in Europe, is expected to grow by 1.6% also.

After Ireland, next on the list are Malta and Romania, with 4.1% and 4.2% respectively predicted growth rates.