Collins welcomes OECD’s positive assessment of Irish Economy

Fianna Fáil TD for Limerick West, Niall Collins, has today welcomed the OECD’s positive assessment of the Irish economy.

In its half yearly economic outlook on the global economy, the OECD has today described Ireland as being “close to a turning point” and predicted that the economy here will grow by 3% next year.

Responding to the report Deputy Collins said, “This is further proof that the tough decisions taken by the Government over the past 18 months have been the right ones. Like the recent forecasts from the Central Bank, the ESRI and the EU, today’s report shows that we are firmly on the road to recovery.”

“The OECD’s endorsement of the bank recapitalisation plan which it described as an ‘important step in restoring the financial sector to health and getting credit flowing again’ is very much to be welcomed. Equally encouraging is the OECD’s praise for Budget 2010 which it said was ‘an important contribution to the process of stabilising public finances.’”

Deputy Collins concluded: “While today’s report by the OECD reminds us there are many reasons to be hopeful about the future, we must heed its advice to stay the course with fiscal discipline.”