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Budget Report 2019

The macroeconomic outlook for 2019 is generally positive, Ireland is expected to achieve GDP growth of 4%, down slightly on previous years. Levels of employment are increasing and Government debt as a % of GDP is falling, it is expected to reach 63.5% in 2019, down from highs of 120% in 2012/20131. Debt levels are more accurately reflected as a percentage of Gross National Income (GNI), which also reflect a downward trend.

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In what has been a very challenging year for farmers, IFA President Joe Healy said today’s Budget was some acknowledgment of the income difficulties in agriculture, but the upcoming major issues of Brexit and CAP will require much more Government commitment and support for farming.

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“IFA has welcomed the announcement that FBD is to buy back the €70m convertible bond from Fairfax.

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Launching the IFA pre-Budget Submission – Supporting Farmers Through Unprecedented Challenges – in Dublin today (Wed), IFA President Joe Healy said a strong Budget ’19 that supports farmers is imperative given the immediate threats to, & long-term challenges, for the sector.

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Commenting on the outcome of the Chequers meeting, IFA President Joe Healy said, “While there are some signs of movement by the British government on agriculture and food issues, the UK statement falls far short of the commitments and clarity required by Irish and EU farmers.

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