Monday, September 5, 2011

Ireland to Return to Positive Growth after 3 Years

During 2008 global crisis, Ireland was the first country in the eurozone to slide into recession mainly because of over dependence on real estate which collapsed during sub prime crisis in 2008. Three years later the economy is expected to return to positive GDP growth.

The IMF approved a disbursement of €1.48B to Ireland after completing a third review of the country’s bailout package.The IMF said that the Ireland's economy and financial markets are showing signs of stabilization and the country should normally return to positive growth in 2011 but warned that the economy faces a weakening in trading partner growth which could dampen the pace of Ireland’s export driven recovery in the near term.

Further Reading:

India's GDP growth below 8%

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