Irish economy wins Fitch seal of approval

THE strong endorsement by Fitch Ratings of the Irish economy reaffirms the belief this country has gone about its day-to-day business in a competent manner over the past few decades.

While our roads and the health service still need sorting, and the housing market is set for a tough time, Fitch, one of the world’s leading credit rating agencies, was very positive about the economy’s ability to withstand the current economic slowdown and it reaffirmed our high international credit ratings.

“We do not expect turbulence in the housing market and low growth for a year or two to undermine Ireland’s ‘AAA’ rating. Ireland remains one of the richest countries in Europe and has amply demonstrated its economic flexibility, while the government has shown its consistent determination to maintain sound public finances,” the group said in its statement.