The National Competitiveness and Productivity Council has said that overall, the country’s “macroeconomic fundamentals” are strong.
In its Competitiveness Scorecard report, published every three years, the Council found that Ireland scores well on education and skills, but comparatively worse when it comes to transport and housing.
Ireland has the second highest share of workers with third level education in the OECD and the highest proportion in the EU of so-called STEM graduates, which covers subjects like maths, science and engineering.
The report outlined problems regarding the environment and the attractiveness of the country for investment.
It warned that the energy infrastructure needed to be transformed.
The report stated that Ireland’s reliance on gas to generate electricity has exposed businesses to “wild swings” in costs and concerns over security of supply that “could have severe reputational consequences.”
It also found that investment in transport infrastructure is the second lowest in the EU and increases in both house prices and rents have eroded “real incomes and reduced living standards.”
In a preface to the report, it’s noted that the Council attempted to include Ireland’s performance in the quality and efficiency of our legal and planning systems, but it faced “persistent and significant data limitations.”