Taoiseach Enda Kenny has said that the decision not to apply for a credit line after the country exits the bailout programme was "the right decision at the right time."
Speaking in Castlebar this afternoon, Mr Kenny said a number of factors had influenced the Cabinet decision.
He said exports were at an all time high, the National Treasury Management Agency had built up a buffer of over €20 billion and there was a European "backstop" of €500 billion, which could be called upon if required.
He said the decision taken by Government was "clear and uncluttered".
Mr Kenny said it gave a clear demonstration of belief in ourselves as a country that we can move forward and not go back to the situation that had applied in recent years.
He said the Irish people deserved credit for the efforts made to bring the country to this point.
Mr Kenny said it was important to set out a plan for the future and that the ending of the Troika programme did not mean the effort to put the economy in order had concluded.
With this in mind, he said 2014 would be the year in which the Government put a major focus on job creation.
He said the Department of Finance would be working to make more credit available to small and medium sized businesses.
Mr Kenny said ensuring low interest rates for any monies borrowed would be central to this effort.
