Next, I turn to a discussion of the macro-financial policies that will determine Ireland’s ability to attain its long-term economic and social objectives. Finally, I offer some conclusions from this analysis. Managing Cyclical Volatility Ireland has repeatedly suffered periods of economic crisis.
The IMF staff has taken these developments into account in the April 2017 World Economic Outlook (WEO) and forecasts that world GDP growth will be noticeably higher over the next two years than in 2016—a slight upward revision relative to the October 2016 WEO.5 There may well even be some chance that foreign economies kick into gear enough that U.S. and foreign business conditions become reasonably well aligned, as occurred during the U.S. monetary tightening cycles that began in 1999 and in 2004.