IMF: Irish economy fastest growing in eurozone amid global inflation and war costs

Ireland’s GDP will grow 5.2% this year and by 5% in 2023, while inflation here will average 5.7% and 2.7% over the two years, the IMF forecasts.

The Irish economy looks set to be the fastest growing in the eurozone over the next two years, despite the huge inflation and war pressures wreaking havoc with the global recovery, according to new IMF forecasts.

In its World Economic Outlook, the IMF slashed its global forecasts for a rebound from the Covid-19 crisis but nonetheless projects that the largest economies will defy recession in the face of escalating price pressures.