Robert Besser
23 Jan 2023, 18:44 GMT+10
NEW YORK CITY, New York: Fitch Ratings has announced that Ireland's Long-Term Default Rating has reached 'AA-' with a Stable Outlook.
Ireland's revenue performance and end of Covd-19 supports will lead to a general government surplus of some 1 percent of GDP this year.
Fitch noted that Exchequer revenue was up by EUR14.2 billion, equal to 2.9 percent of GDP, or 16.5 percent in 2022. Of this, some one half of this increase was due to corporate tax income revenues.
Also, Ireland's debt to GDP ratio fell by an estimated 9 percent in 2022 to 46.5 percent, below the 'AA' median of 48.5 percent.
"We forecast that robust economic growth and strong primary surpluses will drive a fast reduction in debt to 35.3 percent of GDP at end-2024," said Fitch in a statement.
Fitch also noted that the labour market remains very tight, driven by the reopening of the economy after the pandemic and the strong performance of the multinational enterprise sector. The labor force continued increasing in 2022 and grew on average by 5.7 percent between the first and third quarter of 2022.
Additionally, the unemployment rate continued to decline, reaching 4.4 percent in November.
Get a daily dose of Milwaukee Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.
More InformationBOLOGNA, Italy: Due to fears of a collapse, local officials have secured the area around one of two 12th century ...
MUNICH, Germany: The heavy snow and icy conditions that hit Bavaria, Germany, canceled flights and long-distance trains out of Munich, ...
RALEIGH, North Carolina: After a decade of discussions and hesitations, North Carolina has expanded Medicaid coverage by offering government-funded health ...
The U.S. has supplied Israel with scores of BLU-109 bunker-buster bombs since October 7, the Wall Street Journal has reported, ...
WASHINGTON D.C.: This week, the Biden administration announced a proposal by the Environmental Protection Agency (EPA) that would require U.S. ...
TOKYO, Japan: Japan's space agency recently fell victim to a cyberattack, but reassuringly, the compromised information did not pertain to ...
ARLINGTON, Virginia: This week, the conservative U.S. political network Americans for Prosperity Action (AFP Action), led by billionaire Charles Koch, ...
(Photo credit: Michael McLoone-USA TODAY Sports) Catcher Victor Caratini agreed to a two-year, $12 million contract with the Houston Astros, ...
(Photo credit: Jeff Hanisch-USA TODAY Sports) Mason Crosby is set to join the Los Angeles Rams after 16 seasons with ...
(Photo credit: Brad Penner-USA TODAY Sports) Cam Spencer scored 23 points and No. 5 UConn used some hot shooting to ...
(Photo credit: Gary A. Vasquez-USA TODAY Sports) LeBron James scored 31 points with 11 assists, Anthony Davis scored 27 points ...
(Photo credit: Michael McLoone-USA TODAY Sports) Giannis Antetokounmpo collected 35 points, 10 assists and eight rebounds to fuel the host ...