Business body IBEC has revised upwards its growth projections, predicting the Irish economy will grow by almost 3% this year.
Their Quarterly Economic Outlook, published this morning, estimates that 50,000 jobs will be created this year, with unemployment dropping to 11%.
IBEC is urging a focus on tax this year, claiming we're out of line internationally.
IBEC Chief Economist Fergal O' Brien, says the Finance Minister had promised to lower income tax rates, if economic growth exceeds 2%:
The quarterly economic outlook shows the economy gaining momentum, estimating a 22% increase in investment this year.
The organisation also expect consumer spending to increase by 1.9% this year.
On exports, IBEC says the negative effect of the pharma cliff will ease as the year progresses. Last year the pharma cliff wiped almost €5 billion off the value of Irish exports.
The group is cautioning that we need to invest in more infrastructure projects, as well as in skills and education if we're to safeguard the future.
Economist Jim Power gave his view of the IBEC forecast on Newstalk's Breakfast earlier:
