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    IRELAND

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    Neelanjan Pathak
    Ireland has a mixed economy that is outperforming most other eurozone countries. It is ranked the third most competitive country in the euro area and is a major exporter of pharmaceuticals, technology, and financial services. While inflation is currently high at around 9.2%, it is expected to fall to around 3% by 2023. Unemployment remains low at 4.4% and is projected to rise slightly. The country has a single monetary policy as a member of the EU and uses the euro. It maintains a generally positive fiscal policy and foreign trade balance.

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    IRELAND

    Uploaded by

    Neelanjan Pathak
    15 views25 pages
    Ireland has a mixed economy that is outperforming most other eurozone countries. It is ranked the third most competitive country in the euro area and is a major exporter of pharmaceuticals, technology, and financial services. While inflation is currently high at around 9.2%, it is expected to fall to around 3% by 2023. Unemployment remains low at 4.4% and is projected to rise slightly. The country has a single monetary policy as a member of the EU and uses the euro. It maintains a generally positive fiscal policy and foreign trade balance.

    Original Description:

    Macro overview of Ireland

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    Ireland has a mixed economy that is outperforming most other eurozone countries. It is ranked the third most competitive country in the euro area and is a major exporter of pharmaceuticals, technology, and financial services. While inflation is currently high at around 9.2%, it is expected to fall to around 3% by 2023. Unemployment remains low at 4.4% and is projected to rise slightly. The country has a single monetary policy as a member of the EU and uses the euro. It maintains a generally positive fiscal policy and foreign trade balance.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    15 views25 pages

    IRELAND

    Uploaded by

    Neelanjan Pathak
    Ireland has a mixed economy that is outperforming most other eurozone countries. It is ranked the third most competitive country in the euro area and is a major exporter of pharmaceuticals, technology, and financial services. While inflation is currently high at around 9.2%, it is expected to fall to around 3% by 2023. Unemployment remains low at 4.4% and is projected to rise slightly. The country has a single monetary policy as a member of the EU and uses the euro. It maintains a generally positive fiscal policy and foreign trade balance.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    of 25

    MACROECONOMIC ANALYSIS

    OF IRELAND
    1.Anshi Manoria- PF2
    2.Divyanka Soni- PF2
    3.Harshada Raut- PF
    4.Jugal Bhanushali- P
    5.Neel Pathak- PF222
    6.Om Karekar- PF222
    NATURE OF THE ECONOMY
     Ireland has a mixed economy

     The economy is outperforming most other eurozone countries

     Connected to the world through transport links to Europe, the UK and


    beyond

     Major exporters of pharmaceuticals, technology services, and financial


    services.
    INDICATORS OF ECONOMY IN IRELAND
     Ireland ranked third-most competitive country in the euro area

     Income inequality has fallen by 8% in recent years

     Gross domestic product in 2021 was at about 12.259 USD per capita, GDP is
    expected to grow by 7.9% in 2022

     Inflation in Ireland was in 2021 at around 2.36%

     The corruption perceptions index for the public sector counts 67 and
    compared to other countries is moderate
    CURRENT ECONOMIC SCENARIO
     Still favorable developments despite global headwinds

     Employment at record high

     High inflation set to persist

     Projected budgetary surplus in 2023 amid downside fiscal risks


    INCOME DISTRIBUTION
     Ireland - Net national income was € 211426.00 Million in
    December of 2021
    INCOME DISTRIBUTION

    €657077

    €140830

    €31894
    GINI INDEX
     Gini Index as of Dec 2021 is 26.90%
    INFLATION AND UNEMPLOYMENT
    Present Inflation
     Annual inflation rate 9.2% in October, 2022
     Price acceleration of commodities
    History
     Inflation rate :
    High of 23.15% October, 1981
    Average of 4.35% from 1976 to 2022
    Low of -6.56% in October, 2009
    Forecast
     Inflation Rate expected to be at 7.70% .
     Projected to trend around 3.00% in 2023 and 2.30% in 2024
    Inflation Chart of 10 years 2012-22 - Ireland
    UNEMPLOYMENT
    Present Scenario
     Adjusted unemployment rate stood at 4.4% in October, 2022
    History
     Unemployment rate :
    High of 17.30% in December,1985
    Average of 10.30% from 1983 to 2022
    Low of 3.90% in October, 2000
    Forecast
     Unemployment Rate expected to be at 5.10%
     Projected to trend around 5.30% in 2023
    Unemployment Chart of 10 years 2012-22 - Ireland
    MONETARY POLICY
    Single Monetary policy, introduced on 1 January 1999

    Monetary Policy Implementation

     The operational framework is set out at follows:

     Open Market Operations

     Standing Facilities

     Legal Documentation

     Collateral Framework
    Monetary Aggregates
    (annual growth rates)
    ECB/Euro System policy and exchange rates
    Core tasks of the ECB liquidity to the banking system, steering interest
    rates in the euro area and issuing euro banknotes.

    Key ECB interest rates

     The interest rate on the main refinancing operations (MRO)

     The rate on the deposit facility

     The rate on the marginal lending facility


    (interest rate levels in percentages per annum)

    Marginal
    Date (with Deposit Main refinancing operations lending
    effect from) facility facility
    Fixed rate Variable rate
        tenders Fixed tenders Minimum  
    rate bid rate
    2022 2 Nov. 1.5 2 - 2.25
    2022 14 0.75 1.25 - 1.5
    Sep.
    2022 27 0 0.5 - 0.75
    Jul.
    18
    2019 −0.50 0 - 0.25
    Sep.
    2016 Mar.16 −0.40 0 - 0.25
    2015 9 Dec. −0.30 0.05 - 0.3
    IRISH FISCAL POLICY
     4 main areas of spending by the Irish government according to their
    Fiscal policy-

    1. Potential growth of Irish economy and potential growth

    2. Labour Market Imbalances

    3. Irish Inflation

    4. Macro-economic adjustments
    CURRENT SCENARIO IN THE IRISH
    FISCAL POLICY
     Pandemic Unemployment Payment (PUP)

     Employment Wage Subsidy Scheme (EWSS)

     Government revenue increase threefold but unsustainable

     30% Increase in Permanent Core Expenditure

     Balancing Government’s Current Expenditures and Taxation

     Low interest rate environment


    FOREIGN EXCHANGE
     The pound was the currency of the Republic of Ireland until 2002

     The Irish pound was replaced by the euro on 1 January 1999

     The USD/EUR conversion rate is 1.05 (As on 3 Dec 2022)

     In October 2022, foreign exchange reserves for Ireland was 11,845.4


    million US dollars. 
    FOREIGN TRADE
    Imports

     In 2020, Ireland was the world's biggest importer of Unpackaged


    Medicaments ($1.32B)

     The United States and United Kingdom are Ireland’s chief trading


    partners. Other major partners include the other countries of the EU
     (notably Germany, France, and Belgium), China, and Switzerland.
    FOREIGN TRADE (contd….)
    Exports

      Ireland is among the world’s leading exporters of computer software.


    The principal imports include machinery and transport equipment,
    chemicals, petroleum and petroleum products, food products, and
    textiles

     In August 2022, the top exports of Ireland were Medicinal and


    pharmaceutical products (€6.53B), Organic chemicals (€5B), Electrical
    machinery, appliances etc., n.e.s. (€1.29B), Essential oils, perfume
    materials, toilet preparations.
    CONCLUSION
     Ranks 3rd most competitive country in the European continent

     Country Risk Assessment Score is 96.68

     Developed Monetary and Fiscal Policy

     Positive trade balance

     Inflation seen peaking next month and falling to 2% by the end of


    2023'
    THANK YOU!!!

    1.Anshi Manoria- PF2224-D010


    2.Divyanka Soni- PF2224-D020
    3.Harshada Raut- PF2224-D023
    4.Jugal Bhanushali- PF2224-D029
    5.Neel Pathak- PF2224-D036
    6.Om Karekar- PF2224-D040

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