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Economic Statistics

Ireland's Quarterly National Accounts, published earlier this week, serve to underline the detachment between many of Ireland's headline economic statistics and life on the ground.

On Tuesday, 12th November 2019, President Michael D. Higgins hosted a seminar entitled "Rethinking Economics:  The Role of the State in Fostering a Sustaiable and Inclusive Economy".

In his opening remarks, he cautioned "the prevailing neoliberal model which features markets without regulation, distorted trade and unrestricted globalisation, the priority of the price mechanism and the practice of commodification, speculative investment, and which results in unbridled consumption, yawning inequality and destructive extraction of natural resources is unsustainable from economic, environmental and social standpoints."

The OECD and the Irish Fiscal Advisory Council have both published reports outlining the significant challenges ahead for Ireland and Europe in terms of economic recovery.  The publication of these reports reinforces the need for long-term planning to be at the heart of policy making in order to deliver the services and infrastructure that will be required in the years ahead. 

OECD Economic Outlook 2014

The latest figures published by the CSO paint a grim picture in terms of employment and growth in Ireland.  There has been an annual decrease in employment by 33,400 since Q2 2011 and a 1.3% increase in unemployment over the same period.

CSO Quarterly National Households Survey Quarter 2 2012 and the Quarterly National Accounts Q2 2012.

According to Eurostat figures published on February 6, 2012, Ireland had the fourth highest ratio of government debt to GDP in the EU at the end of the third quarter of 2011 at 104.9%. This represents an increase of 16.5% over the third quarter of 2010, the third highest increase in the EU.

Social Justice Ireland is deeply disappointed with some of the recommendations of the OECD’s latest report on Ireland.

The latest figures for GDP (Gross Domestic Product) per capita in EU Member States have been published by Eurostat.  They show Ireland's GDP per capita in Purchasing Power Standard (PPS) is 125% of the EU average. Only Luxembourg and the Netherlands arae higher.