Statement by European Commission and ECB staff following the conclusion of the eight post-programme surveillance mission to Ireland

Staff from the European Commission, in liaison with staff from the European Central Bank, visited Dublin from 28 November to 1 December to conduct the eighth post-programme surveillance (PPS) review for Ireland. The statement noted that “the strong momentum in the Irish economy is expected to continue in the short term, but risks remain tilted to the downside.While the headline figures remain volatile and heavily influenced by the activities of multinational enterprises, underlying domestic activity is growing at a solid pace, buoyed by robust employment growth, private consumption and strong investment in construction. Risks to the economic outlook relate primarily to the outcome of the negotiations regarding the UK’s exit from the European Union and potential changes to the international taxation environment. Risks could also arise in the event of continued strong increases in property prices over the medium term.”

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