EU Structural Funds for Ireland - Mid-Term Review
A Mid-Term Review of the use of the European Union's (EU) Structural Funds in Ireland has recently been completed. The review takes stock of EU Structural Fund implementation at the midway-point of the 1994-1999 support period and concludes that the Irish performance has so far been outstanding. By the end of 1996, ECU 2.4 billion, 41% of the EU allocation of ECU 5.7 billion for the whole period, had been spent. Furthermore, all key indicators have, to date, been well above the projected annual average for the period 1994-1999: - The target for job creation by the end of 1996 has been exceeded. The average annual net job creation is estimated at almost 56,000, compared to a target of 15,000; - GDP growth has been impressive, bringing Ireland well over 90% of the EU average GDP; - Gross expenditure on R&D adds up to 1.6% of GDP, well over its initial target; - Unemployment has fallen and more long-term unemployed are gaining access to the labour market. "The Mid-Term Review shows clearly that Ireland has made excellent use of the funds," Commissioner Monika Wulf-Mathies declared. The Review also sets new priorities for the period post 1999, when an increased effort will be made to close the infrastructure gap and more focus will be placed on the long term unemployed and early school leavers.
Kraje
Ireland