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Ireland

This country page contains, or links to, DG ECFIN’s recent analytical work on the economy of Ireland.

Economic situation

In 2015 the Commission made four country-specific recommendations to Ireland to help it improve its economic performance. These are in the areas of: public finances and taxation; health; labour market and poverty; financial sector.

Economic outlook

The Commission publishes macroeconomic forecasts for the EU and the Member States three times a year, in the spring (May), in the autumn (November) and in the winter (February). These forecasts are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN).

EU Financial assistance

From 2011 until the end of 2013 the EU and the IMF provided financial assistance to Ireland. In December 2013, Ireland successfully completed the EU-IMF financial assistance programme, with the vast majority of policy conditions under the programme substantially met and investor confidence restored for the sovereign and the banks. Ireland is now subject to post-programme surveillance (PPS) until at least 75% of the financial assistance received has been repaid.

Fiscal surveillance

Assessments of Ireland's stability programme

In spring Ireland submitted a stability programme that presented an update of the medium-term fiscal strategy. The programme was assessed by the Commission.

The EU Excessive deficit procedure and Ireland

Macroeconomic surveillance

National reform programme

As part of the Europe 2020 strategy for a smart, sustainable and inclusive EU economy, Ireland submitted a national reform programme (NRP) in spring, which was assessed by the Commissionpdf Choose translations of the previous link .

Macroeconomic Imbalance Procedure

The Macroeconomic Imbalance Procedure (MIP) is a surveillance mechanism that aims to identify potential risks early on, prevent the emergence of harmful macroeconomic imbalances and correct the imbalances that are already in place. The annual starting point of the MIP is the Alert Mechanism Report: Based on a scoreboard of indicators and economic judgment, it is a filter to identify countries and issues for which a closer analysis (in-depth review) is deemed necessary. The outcome of these in-depth reviews forms the basis for further steps under the MIP.

An in-depth review for Ireland has been carried out in:

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