Ireland back on its financial feet - OECD

The Organisation for Economic Co-operation and Development says Ireland is back on its feet and in growth mode.

Ireland back on its financial feet - OECD

The Organisation for Economic Co-operation and Development says Ireland is "back on its feet" and in growth mode.

The OECD said the worst is now over and most of the heavy lifting to put the country's debt on a downward path will soon be behind Ireland.

"The core message of this year's survey is that Ireland is back on its feet," said Dr Angel Gurria, Secretary General of the OECD.

"Financial markets have recovered their trust in the country's policies, and the countries' future prospects."

It said the country is on the verge of becoming the first bailed-out European nation to successfully exit its financial rescue programme.

And the OECD claims all the domestic economic indicators point towards a recovery.

However the international economic watchdog is warning that the road ahead is challenging, with more needed to reinvigorate the economy.

In its latest two-year review, it said that while job creation is picking up, long-term and youth unemployment remains unacceptably high.

It also noted more needs to be done to support small Irish businesses, and to "heal its economic and social wounds."

More in this section

Text header

From florist to fraudster, leaving a trail of destruction from North Cork, to Waterford, to Clare, to Wexford and through the midlands ... learn how mistress of re-invention, Catherine O'Brien, scammed her way around rural Ireland.

War_map
Execution Time: 0.23 s