S&P: Exports driving recovery

Standard & Poor’s predicts that Ireland, Spain and Portugal will all have current account surpluses this year as they reform their economies after the sovereign debt crisis pushed them to seek bailouts.

The forecast is part of a report on the countries’ progress in rebalancing growth published yesterday.

Since 2008, exports have risen 13.6% in Ireland, 4.4% in Spain and 4.6% in Portugal&.