Ireland’s GDP: Ireland’s Amazing Economic Growth – Economy

Ireland's GDP: Ireland's Amazing Economic Growth - Economy

“You do not even believe what is happening here,” Andy McManus, spokeswoman for Ireland’s CSO, the Irish National Statistics Agency in Dublin, said in a statement on Wednesday. The calls came from Africa and of course the United States. The other day, his office announced that it had recalculated its gross domestic product (GDP). Accordingly, Ireland’s economy as a whole did not grow by 7.8 per cent in 2015 compared to the previous year. The figure was already a European record, with Germany reporting 1.7 percent. No: The Celtic Tiger grew 26.3 percent in 2015! That would be a world record. Will.

American economist Krugman scoffs on Twitter

Traditionally, US economist Paul Krugman took to Twitter to mock the “Leprechaun Economy”, referring to the Irish Leprechaun form that sits on the edge of every rainbow and protects the gold-filled vessel hidden there. 26 percent? “That doesn’t make sense,” Krugman tweeted. Ireland’s Treasury Department released more statistics. There is also a quote from Minister Michael Noonan, who is likely to lash out at EU rivals at a meeting in Brussels – for his excellent mathematical skills in Dublin. “Statistics published by the Office of Statistics show that Ireland’s economy continues to grow.” Noonan believes, but apparently official statisticians are still clinging to their numbers on Wednesday, among other things, “the increase in imported aircraft. Ireland”, “the biggest increase in company capital”.

More and more foreign companies are moving their headquarters to the island

26.3 percent – No real air number? More and more foreign companies are moving to Ireland as corporate taxes fall by 12.5 per cent. So your capital is included in the calculation of GDP. Of course, as the Financial Times engraves in a report, this has little to do with the real economy. Dublin statistics agree that working conditions have not “changed much” because of this number. As proof of their mental health, they presented a geographical figure in the first quarter of 2016: Ireland’s economy shrank by 2.1% compared to the previous quarter. In the Irish press, staggering numbers shook heads: “They have tarnished Ireland’s international reputation, and investors and analysts rightly conclude that this 26 per cent growth is a myth,” the Irish Times commentator wrote.

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