Stimulus package ‘vital for exports’

The main representative body for the country’s 13,000 manufacturing export companies has called for a major growth stimulus package to safeguard Ireland’s export industry and economic growth prospects.

Speaking at the launch of the 2013 European Payment Index, by leading international credit management services company, Intrum Justitia, Irish Exporters’ Association chief, John Whelan, said the Government must act immediately to avoid permanent damage to the long-term growth prospects of the manufacturing sector.

“Manufacturing industry plays a critical role in the Irish economy, as a driver of export growth and offering significant spin-off effects for shipping, haulage and a wide range of sub-suppliers, but it has been under severe pressure for the past five years, with the volume of exports contracting by 10% since 2008 and job losses of 60,000 in the period,” he said.