According to PricewaterhouseCoopers' latest economic analysis, Ireland's GDP growth rate for this year is expected to be around 4.75%, more than double the predicted eurozone average of 2%.
The accounting firm went on to suggest that the Republic is set to outperform the other members of the eurozone in 2007 as well, with predicted GDP growth of 5%, compared with a 2% average elsewhere in Europe.
Domestic demand and strong employment growth are expected to be key factors in the country's impressive economic growth. Although investment in housing is likely to decline over the period in question, business investment is expected to strengthen, according to PwC.
Factors which could threaten the RoI's GDP growth rate included an increase in the strength of the euro against the dollar, a drastic slowdown in the UK's economy, and a quicker or more dramatic downturn in the domestic housing market than expected, the analysis revealed.
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