Irish economic growth for 2017 likely to beat 4.3 pct: minister

Source: Xinhua| 2018-01-10 19:54:14|Editor: Jiaxin
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DUBLIN, Jan. 10 (Xinhua) -- The economic growth rate of Ireland in 2017 is likely to beat the 4.3 percent forecast, a senior official said here on Tuesday.

Paschal Donohoe, Irish Finance Minister, told a press briefing that the 4.3 percent forecast earlier made by his ministry for the country's economic growth rate in 2017 is likely to be surpassed.

This will make Ireland the European Union's best performing economy for the past four consecutive years, said the minister.

Despite this, the minister warned that the Irish economy could witness a consistent slowdown in growth rate in the coming few years due to a number of factors including Brexit impact and changes to corporate tax rates internationally.

According to a report unveiled the press briefing, the Irish economic growth rate will first slow down to 3.5 percent in 2018 from last year's estimated 4.3 percent, then further slide to 3.2 percent in the next year. The economic growth rate of the country will only stand at 2.8 percent in 2020 and 2.6 percent in 2021, said the report.