For the OECD, Ireland "out of the crisis"

For the OECD, Ireland "out of the crisis"

Brussels : Belgium | Oct 14, 2011 at 10:54 AM PDT
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The IMF said the fiscal consolidation in Spain needs to be

Ireland "out of the crisis." But it must nevertheless persevere in its policy of austerity, said Friday, Oct. 14 Organization for Economic Cooperation and Development (OECD). And if you can "do more" to reduce its deficit.

In its annual survey of Ireland, the OECD praised the "fiscal consolidation effort" led by the Irish authorities, who have alreadyreceived several satisfecits the same type from the InternationalMonetary Fund (IMF) and European Union (EU).

The Organization expects growth of gross domestic product(GDP) Irish 1.2% in 2011, significantly higher than expected in May (0%).

Ireland has suffered from the rout of the largest banks in thecountry after all-out investment in real estate. Attack on the publicdebt markets, the country entered last year with the IMF and EUinternational aid plan of 85 billion euros in exchange for newefficiencies and structural reforms.

According to the OECD, "the three-year adjustment program,financially supported by the IMF and the EU is on track and began to address the root causes of imbalances" in the country,especially a victim of its banking system hypertrophied.

"Good progress is made ​​in reducing the public deficit, but we must do much more," also writes the Organization.

The same goes for independent body to advise the governmenton the budget. "Our main conclusion is that there are strong arguments in favor of strengthening the fiscal consolidation effort," said the Advisory Council budget Irish (IFAC) in its first report since its inception in June, on Wednesday 12 in October.

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The EU and IMF agreed to an 85-billion-euro bailout deal for debt-laden Ireland on Sunday
The EU and IMF agreed to an 85-billion-euro bailout deal for debt-laden Ireland on Sunday
Abdel Fattah Hussein is based in Cairo, Kairo, Egypt, and is a Reporter on Allvoices.
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