Accounting firm predicts improvement in Ireland's growth

The outlook may be improving, but we cannot afford to be complacent about economic growth in the coming years, according to accounting firm E-Y.

In a new forecast, it predicts Ireland's economic growth will hit 4.8% this year, and drop back to 3.3% in 2015, because of risks like eurozone deflation and fragile global markets.

However economic advisor at E-Y, Professor Neil Gibson, says the slowdown in growth is not a major concern.

Prof. Gibson said: "Most economies in the Eurozone would be delighted to have that figure, that would still keep Ireland top of the growth charts.

"It's something we've expected to happen for some time, it has just taken a little bit longer to come through because the domestic economy wasn't enjoying any of the growth that the external economy was.

"But we are finally seeing some growth closer to home and that is helping to push Ireland back to that position at the top of the growth charts."