Boston, MA -- (SBWIRE) -- 05/28/2014 -- We hold an increasingly positive view of Ireland's prospects of an economic recovery over the next few years.

We forecast above-consensus real GDP growth of 2.3% in 2014, underpinned by our view that consumer spending will begin playing a bigger role in the recovery.

Ireland will maintain its competitive advantage in the service export sector.

However, the country's favourable corporate tax regime is likely to come under increasing international pressure in 2014, damaging the country's reputation within the EU and placing government under increasing scrutiny.

Major Forecast Changes

We have revised-up our forecasts for real GDP to expand by 2.3% in 2014, from a forecast of 2.1% previously, against the backdrop of our increasingly bright outlook for consumer spending.

Key Risks To Outlook

Risks to our relatively positive growth outlook for Ireland are posed by the potential for any significant downturn in consumer sentiment, possibly the product of a credit event in another eurozone country or fears of a growth slowdown.

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