European forecasts see a booming and fast growing economy for Ireland.
New figures published by the European Commission suggest that the Irish economy is surging ahead of the rest of Europe and is likely to do so for several years.
According to the European Commission, the economy in Ireland will grow by 11.4% this year and predicts that it will expand at three times the European average for the next two years.
The unemployment rate in Ireland is at 8.7% which is below the European average, and the forecast is for it to continue to fall.
The government’s budget surplus is also looking healthy. Ireland’s inflation at 2.7% is the highest in the European Union and is an issue according to EU Commissioner Yves Thibaut De Silguy,
It’s important to maintain the inflation at a reasonable level in Ireland.
The feeling in Brussels is that the Irish economy is booming, but
The real challenge facing the government is how do you manage that success.
An RTÉ News report broadcast on 21 October 1998. The reporter is Tommie Gorman.
