Ireland is predicted to be the fastest-growing economy in Europe this year according to new figures from the European Commission, with the EU’s executive arm expecting the economy to grow by 4.9 per cent this year.

The predicted GDP growth rate is higher than the figure of 4.5 per cent for 2016 estimated three months ago. The Commission also revised upwards its estimates for 2017 to 3.7 per cent, up slightly from the growth rate of 3.5 per cent predicted in February.

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