2011 OECD Economic Outlook, Volume 2011 Issue 2

image of OECD Economic Outlook, Volume 2011 Issue 2

The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country and an extensive statistical annex.

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After its severe banking crisis, Ireland has made good progress in redressing fiscal and macroeconomic imbalances, with the help of the EU-IMF programme. Following comprehensive stress tests, the banks were recapitalised through government and private sector contributions. Ireland’s export markets are weakening significantly which, combined with needed fiscal tightening, is expected to result in modest growth in 2012, continued high unemployment and low core inflation. A gradual economic upturn is expected to unfold in 2013.

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