Dáil Éireann Debate, Wednesday - 1 April 2015
58. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which this country’s economic performance remains in line with best practice and expectations throughout the eurozone and the wider European Union; and if he will make a statement on the matter. [13595/15]
View answerIreland was the fastest growing economy in Europe in 2014 with real GDP growth of 4.8 per cent compared with real GDP growth in the euro area economy of 0.9 per cent and 1.3 per cent in the EU economy. Economic growth in Ireland is now more broadly balanced, with exports contributing to growth as a result of competitiveness gains and with the domestic economy (private consumption and investment) also contributing to growth once again.
According to the European Commission, Ireland is expected to be the fastest growing economy in Europe again this year. The European Commission expects Ireland's economy to grow by 3.5 per cent in 2015; the euro area's economy to grow by 1.3 per cent and the EU's economy to grow by 1.7 per cent.
Our priority must be to ensure continued, balanced economic growth in order to further reduce unemployment and to increase living standards.
