The Executive Board of the International Monetary Fund (IMF) has concluded its annual review of the Irish economy. The publication issued by the IMF following the review acknowledges that the Irish economy has performed well and started 2025 in a strong position.
In the report, the IMF noted that the Irish economy is projected to continue to grow but at a slower pace, with increased global uncertainty impacting on household and business spending decisions. The review also highlights significant downside risks to growth and public policy due to the concentration of activity in a small number of multinational enterprises and the impact of external trade and tax policy shifts on this cohort of businesses.
Commenting on the report, Minister for Finance, Paschal Donohoe TD said:
“I welcome today’s publication by the IMF, and its assessment that our economy and the impressive results we have achieved by building on our comparative advantages.
I note and share the IMF’s assessment of external risks, notably the reversal of globalisation, the ongoing disruption caused by regional conflicts, domestic capacity constraints, and the uncertainty in relation to corporation tax receipts. While I acknowledge Ireland’s vulnerability to the rise in global uncertainty, our economy has demonstrated resilience in the face of consecutive large shocks”
Also commenting on the report, Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers TD said:
“I welcome the IMF report which presents a timely opportunity to consider ongoing developments in our economy. Working with Minister Donohoe and his Department, we will be setting out how the country will manage government spending, taxes and reform over the next five years. This work looks beyond quick wins, ensuring informed investment, stability and real progress.”
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