Smooth exit from bailout forecast

Ireland is heading for a smooth exit from the bailout programme as GDP grows — delivering a huge political and reputational reward for the country, according to the latest Ernst & Young Economic Eye.

The Economic Eye summer report upgrades its GDP forecast for Ireland from 1.9% to 2.2% in 2014. This comes in the wake of a similar upgrade from the ESRI in its Quarterly Economic Commentary which forecast GDP growth of 2.7% in 2014.

In sharp contrast the Ernst & Young growth forecast for Northern Ireland remains weak — rising slightly to 1.7% in 2014.