Ibec: Economic outlook remains positive but Government faces tough budget decision [Video]

Ibec, the group representing Irish businesses, published its new Economic Outlook, forecasting GDP growth of 2% in 2024 and 2.7% in 2025.

The report highlights that while the Irish economy is experiencing some moderation in growth after five years of remarkable expansion, the economic outlook remains positive.

However, the Outlook also notes that under-delivery in critical infrastructure—such as water, housing, energy, transport, and skills —is constraining the potential for growth in both domestic businesses and foreign direct investment. 

Commenting on the report, Ibec’s Head of National Policy and Chief Economist, Gerard Brady, said: “Ireland has clear potential to compete in the years ahead, driven by a skilled and growing workforce, energy resources, and significant improvements in national infrastructure.

“Successfully delivering on these priorities would be economically transformative for the country.”

Brady also warned that the country is now at “an inflection point” where Ireland’s ability to deliver will determine if determine whether this is achievable.

“Too often,” …