The Irish Business and Employers' Confederation has said measures taken to correct the economy are paying off and that the country is slowly, but surely, trading its way to recovery.
IBEC director general Danny McCoy said that for the first time in four years, the Irish economy will record growth in 2011. He said that despite the recent volatility on world markets, we are not heading towards a double dip recession.
He said that while growth was clearly slowing in the main economies of the world, global trade will continue to expand and Irish exporters have the capacity to grow market share despite the more challenging environment.
Mr McCoy said that major progress has been made restoring competitiveness and ensuring that Irish businesses are on a firm and sustainable footing.
Speaking on RTÉ radio, Mr McCoy also said there should be no austerity measures beyond the €3.6 billion already planned by the Government. He said what is needed is greater ambition for growth and recovery.
