Bertie leads a high-level delegation to India with an eye on the future

MANY of the end of year reviews are extremely positive about the fact that the Irish economy has enjoyed another 12 months of success.

Indeed it has perhaps been this country's most economically successful year ever. The overwhelming majority of those living in this country are better off than they were this time last year. Ireland has again enjoyed a strong economic growth rate. Our inflation rates and interest rates have remained low. Our unemployment rate is relatively negligible. Tens of thousands more people are working in Ireland at the end of this year than there were 12 months ago. Thousands more have achieved third level education.

Some time in the future, the doomsayers who specialise in predicting what they say is the imminent onset of economic recession may be proven right but it didn't happen last year. It won't be 2006 and it is unlikely to happen for some years to come.