International Business

OECD Sees Rapid Growth for Irish Economy: Domestic demand and buoyant exports should keep Ireland on an economic fast track, helping real gross national product expand by 5% in 1995 and 4.5% in 1996, the Organization for Economic Cooperation and Development said. “The Irish economy appears set to continue its recent rapid growth based on the recovery of domestic demand and buoyant exports,” the OECD said in its annual survey of the country. Since 1991, Ireland has recorded the fastest expansion in the European Union. The OECD is expecting the unemployment rate to fall this year to 13.9% from 14.8% in 1994. Ireland’s central bank is forecasting GNP growth of about 5.75% in 1995.