A slew of data about the Irish economy published in the past two weeks all points to a remarkable turnaround in the State’s economic fortunes. Internationally, we defend their importance to the Irish economy, insisting they provide real “substance” and jobs: at home, we’re busy trying to remove them from our national accounts. But measures such as modified domestic demand and modified gross national income (GNI*) – the CSO’s attempts to de-globalise the Irish economy – are unlikely to be anything more than statistical curiosities. As a result, the value of the Irish economy is now close to €300 billion, 56 per cent higher than it was at the peak of the Celtic Tiger in 2007. Minister for Finance Paschal Donohoe has said he’ll shelve tax cuts if he feels the economy is starting to overheat.

Source: The Irish Times March 30, 2018 05:37 UTC