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Ireland - Politics, Economy, Society: The Irish republic is a parliamentary democracy. Its constitution was promulgated in 1937 and can be amended through a referendum. The country’s head of state, the president (uachtarán), is elected directly by the public for a term of seven years and is eligible for reelection for a second term.
The Irish economy began to recover in 2014, growing by 4.8%, making Ireland the fastest growing economy in the European Union. Contributing factors to growth included a recovering construction sector, quantitative easing, a weak euro, and low oil prices.
- Calendar year
- 5,149,139 (2022 census)
- Euro (EUR, €)
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Government spending as a percentage of GDP in Ireland decreased from 47.2% in 2011 to 24.3% in 2019. It increased again in 2020 to 27.3% and then reduced to 24.8% in 2021. Government spending as a percentage of GNI* followed a similar pattern, decreasing from 63.6% in 2011 to 41.1% in 2019.
Ireland’s economy is outperforming most other Eurozone countries with almost full employment and rising real wages. So why are Irish consumers among the most pessimisticin Europe? Although it was among the nations hardest hit by the 2007/8 economic crisis, Ireland’s economy has bounced back.
Key Resources. Access Ireland Projection Data. Access Economic Outlook Digital Report. 14 December 2022 - Economic Survey of Ireland. The Irish economy weathered the COVID-19 pandemic and is coping well with the repercussions from Russia’s war of aggression against Ukraine.
Economy of Ireland. Ireland has a mixed economy. The constitution provides that the state shall favour private initiative in industry and commerce, but the state may provide essential services and promote development projects in the absence of private initiatives.
Oct 17, 2023 · Economic Indicators. CSO statistical publication, 17 October 2023, 11am. Economic and Social Change in Ireland from 1973-2023. Charting some of the changes in Ireland’s economic and social history to mark 50 years of Ireland in the EU. Ireland's GDP 1975-2022.
