Investec talks up Irish recovery

The interest rate connected to Government debt is expected to decline further before the end of this year, as the country continues to distance itself from periphery eurozone nations.

In its latest economic outlook on Ireland, specialist bank Investec yesterday offered a broadly upbeat picture for the next few years — stating unemployment will continue to fall, GDP will continue to rise, the country’s budget deficit will keep narrowing and consumer spending will gradually pick-up.

While a little more sober in its outlook for headline economic growth than some, Investec still feels confident that GDP will grow 2.5% this year and roughly the same for the next two years. GNP, which excludes the economic contribution of multinationals, should grow just under 3% this year and next.