Fine Gael TD for Dublin Fingal, Alan Farrell, has stated that the European Commission’s projections for Ireland’s economic growth will be encouraging for the public and for businesses and SMEs in the constituency and throughout the country. The Autumn 2014 European Economic Forecast, published by the European Commission, has shown that Ireland’s economy is the fastest growing economy in Europe, and predicted that it will retain this position in 2015 and 2016.
“The Commission’s report has predicted that the Ireland’s economic growth rates in 2015 and 2016, following the projected 4.6% growth rate this year, will ensure that Ireland remains as the EU’s fastest growing economy over this three-year period.
“Increasing domestic demand and strong exports were identified as two factors which have been essential in spurring Ireland’s economy recovery. The report has also stated that retail sales are steadily increasing. This will be welcome news to business people throughout Dublin Fingal and to the general public. Furthermore, thanks to the presence of the airport; businesses in Fingal are in the prime position to capitalise on the economy’s strength in relation to the exporting of goods.
“Domestic demand and the upward trend in retail sales will provide much needed support to SMEs throughout the North County and will assist in revitalising main streets, particularly those in Swords, Rush and Balbriggan. This increase in retail sales will hopefully encourage new businesses to establish themselves in the currently vacant units in town centres, and we can all support small businesses by shopping local, where possible.
“With the European Economic Forecast stating that the country’s economic recovery has gathered “firm momentum”, it is clear that the Government’s economic policy is working. While this is positive news, we still have a long way to go and we must not be complacent in terms of rebuilding the economy and getting people back to work. SMEs are the largest creators of jobs in this country. We must continue to support them in finding opportunities to develop and grow as this will further strengthen or economy and boost job creation in our local communities.”