Economic growth of 3.7% forecast

A new economic forecast has found that the Irish economy will grow by 3.7% this year.

The prediction by Ernst & Young reflects a slight decrease on 2014's growth, which was 4.8%.

However, they expect exports to rise by 5.5% in 2015, after April recorded the highest ever month for exports.

Economic advisor to EY, Professor Neil Gibson, said the Government needs to work to stimulate the domestic economy.

"It's really important as we move into the next budget cycle, that the Government looks how to best use the money it has available to try and encourage the domestic economy to maintain confidence," he said.

"[We want people] building houses, investing their money, and basically giving people comfort that there are more employment opportunities out there, and consequently making them more willing and able to spend in our shops and restaurants."


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