skip to main content
Newsroom

Overview    News

26.3% Rise in Ireland's GDP

The Commission has taken note of the substantial revisions to 2015 GDP which Ireland's Central Statistics Office released on July 12. National accounts data prepared by the national statistics offices of Member States are validated by Eurostat before being used as a basis for the Commission's fiscal assessments. Eurostat will have to analyse the data in detail at the time of the submission of the 2015 GNI figures on 22 September. In principle, large revisions may occur in a situation where important economic operators relocate their operations either into or out of a small economy. The GDP series for Ireland in the past has been volatile and subject to strong revisions. Any increase in government spending in the coming years will depend mainly on the sustainability of the economic recovery. Prudent fiscal planning and respecting commonly agreed EU fiscal rules continues to be crucial.

date:  13/07/2016