European Commission: Remarkable recovery, but issues remain

The European Commission has lauded Ireland’s “remarkable” economic turnaround but warned of a number of pitfalls that could scupper the progress.

In a statement following the conclusion of its fifth post-programme surveillance mission, the commission reaffirmed Ireland’s position as the EU’s fastest growing economy, with growth now coming from a broader base.

Economic growth is expected to moderate somewhat to around 5% in 2016 and a more sustainable rate of almost 4% in 2017.