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IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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OECD

Economic Survey of Ireland 2011 [14 October 2011]

http://www.oecd.org/document/63/0,3746,en_2649_33733_48842623_1_1_1_1,00.html

Press Release 14 October 2011

Ireland coming out of the crisis, but challenges remain

http://www.oecd.org/document/39/0,3746,en_21571361_44315115_48879527_1_1_1_1,00.html

14/10/2011 - The Irish economy faces tough challenges as the country exits from a deep recession and banking crisis, but its long-term prospects now appear better than many of the other hard hit European countries, according to the OECD’s latest Economic Survey of Ireland.

The report, presented today in Dublin, shows that gains in competitiveness and increased exports are driving a modest recovery which should see growth reach 1.2 percent in 2011, an upward revision from the zero percent rate projected last May in the OECD’s last Economic Outlook.

The new forecast comes with significant downside risks, however, notably market fears over financial stability in the euro area.

The OECD Survey urges Ireland to persevere on the path of fiscal consolidation established under an EU-IMF stabilisation programme, notably that its budget defict drop below 3% of GDP by 2015. The OECD projects that the Irish deficit will be 10% of GDP this year before beginning a downward trajectory in the coming years.

AND MORE...including CHART....

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 262-6041               
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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