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2020 OECD Economic Surveys: Ireland 2020

image of OECD Economic Surveys: Ireland 2020

The Irish economy has continued to expand strongly, consolidating its post-crisis recovery. Nonetheless, uncertainty remains elevated and legacies of the financial crisis continue to threaten economic resilience. Fiscal prudence is required, given rising fiscal costs from ageing, emerging capacity constraints and international tax policy changes that could weaken tax receipts. The authorities should broaden the property tax and Value Added Tax bases, ensure environmental costs are better reflected in prices and improve the governance around public spending, particularly in healthcare. At the same time, technological change is transforming the Irish economy, leading to new jobs and innovative products that benefit consumers. Further technological adoption by firms will boost productivity if complementary skills in the workforce are cultivated. There is significant scope for greater participation in lifelong learning, which should be encouraged through well-targeted training programmes and ensuring individuals are able to take part, for instance by expanding childcare supply. To ensure the benefits of technological progress for the economy are fully realised and shared, policy settings in other areas, such as competition and the labour market, also need to be revisited.

SPECIAL FEATURE: TECHNOLOGICAL DIFFUSION

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Basic statistics of Ireland, 2018

(Numbers in parentheses refer to the OECD average)*

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Ireland were reviewed by the Committee on 16 January 2020.  The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 3 February 2020.The Secretariat’s draft report was prepared for the Committee by Ben Westmore and Haruki Seitani, with contributions from Ronan Lyons, Olena Havrylchyk and Andrés Fuentes Hutfilter, under the supervision of Vincent Koen. Research assistance was provided by Lutécia Daniel and editorial support by Sisse Nielsen and Michelle Ortiz. The previous Survey of Ireland was issued in March 2018.Information about the latest as well as previous Surveys and more details about how Surveys are prepared is available at www.oecd.org/eco/surveys.

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