Unemployment in Ireland the lowest since 2009 – less than 10 percent. – Onet.pl

According to data presented Thursday in Dublin unemployment in Ireland at the end of March. amounted to 9.9 per cent., while the number of people employed increased in the first quarter by 12.5 thousand. (0.6 percent.).

As noted, the improvement of the Irish labor market was made possible by the implementation of and the use of funds from the bailout program administered by the European Commission, the European Central Bank and the International Monetary Fund terminated by the government 18 months ago. It caused – as stated by Reuters – that the Irish economy has become the fastest growing economy in the EU.

Creating jobs is currently the highest priority of the Irish government, which already in 2012. has implemented an ambitious program for employment. Creation of new jobs to grow stronger tax incentives, as well as a special investment fund worth 7 billion euros. It aims to support small and medium-sized enterprises. A special program is designed for young people in the labor market.

The government in Dublin predicts that the unemployment rate in 2016 years will fall to 8.8 percent.

According to published in May, the European Commission forecasts that the unemployment rate Ireland will amount to 9.6 per cent., and in 2016 – 9.2 percent. This year’s economic growth is estimated at 3.6 per cent., In 2016. – At 3.5 percent.

The aid package for Ireland together with the funds to recapitalize banks and bilateral loans amounted to 85 billion euros. In return, the government agreed to apply the agreed bailout program and committed quarterly control over its finances. The last tranche of Dublin received in December 2013.

Ireland asked for help when following the meltdown in the markets 2008 financial. it was revealed that Irish banks have issued itself to undue risk on the real estate market. The result of bailing out the banks at any price was jacked up the budget deficit to 35 percent. GDP and public debt, which is expected to reach a peak point in the year. at 125 percent. GDP and decrease to approx. 119 per cent. GDP within two years. Yet in 2007. Irish public debt amounted to less than 25 percent. GDP.