ESRI sees strong growth despite global risks

The Irish economy will face down a slew of threats facing the world economy and continue to post strong growth through 2017, the ESRI think tank has predicted.

GDP will grow 4.8% this year and by 4.1% in 2017 despite the risks of a slowdown in China and the UK ‘Brexit’ vote on leaving the EU in June, it said in its latest quarterly review.

Government tax revenues will continue to grow and the annual budget could be in balance as early as next year, if strong growth were to persist.