The Republic of Ireland has experienced remarkable economic growth in recent years, earning the country the title of the ‘Celtic Tiger’.

Its economy has expanded at an annual inflation-adjusted rate of more than 7% since 1995, when growth peaked at 10.4%. Estimates for economic growth in Ireland for 1998 suggest that the economy grew at a rate almost three times greater than that of the economic & monetary union (EMU) level of 2.6%.