Ibec ups post-bailout GDP forecast

Ibec has significantly upped its forecast for Ireland’s economic growth in 2014, saying the bailout exit should usher in a phase of strong economic growth and job creation.

In its latest economic outlook the employers’ representative has upped its forecast for GDP growth in 2014 from 2.3% to 2.8%. This, it said, could lead to the creation of around 50,000 jobs during the year.

“The bailout exit is very significant and will further bolster consumer and business confidence. The prospects for 2014 are good and the recovery will gain further momentum next year,” according to Fergal O’Brien, chief economist and head of policy at Ibec.