Published on Thursday28thJuly2016

Minister Noonan and IMF agree on economic outlook

20160728Noonan IMF

Minister Noonan speaking at the launch of the Mid year expenditure report

Finance Minister Michael Noonan today welcomed the publication by the International Monetary Fund of a range of reports which are each designed to help protect the economic and financial well-being of our citizens and all of which have aligned with the Government’s own assessments.

The IMF have found in both the Article IV Report and the fifth post programme monitoring discussions that the rebound of the Irish economy has been exceptional. Solid job creation has reduced the unemployment rate below 8 percent. They expect the positive economic performance to continue although over the medium term, Ireland’s economy is likely to be affected by the spillover effects of the UK’s decision to leave the EU.

Commenting on these publications by the IMF Minister Noonan said: 

I am particularly heartened to see that the IMF’s assessment is broadly in line with the Government’s own assessment of the health of the economy and that the IMF continue to recognise the hard work of Ireland’s and the Government’s policies that together have facilitated our recent improvements. The IMF also recognises that the Government is fully committed to sound budgetary policy in the years ahead and that Ireland’s financial regulatory and supervisory frameworks have been significantly upgraded and the financial soundness of the banking sector has improved.