The Minister for Finance says people will experience an improvement in living standards this year.
Minister Michael McGrath gave the keynote address at The Global Economic Summit which got underway at the Europe Hotel and Resort in Killarney this morning.
He says the rate of growth is exceeding the rate of inflation, adding businesses will be able to regain some of the lost competitiveness which will benefit everyone.
Almost 300 business leaders, economists and academics are attending the event which continues until Wednesday.
Minister McGrath says great progress is being made in bringing inflation down:
Prince Albert of Monaco also addressed The Global Economic Conference earlier.
In 2006 he launched his foundation which is dedicated to the protection of the environment by supporting projects around the world, focusing on three main challenges.
These are fighting against climate change and promoting renewable energy; combating the loss of biodiversity; and preserving water resources.
In his speech, Prince Albert of Monaco said it was up to this generation, with the help of future generations, to face the challenges posed as early as possible:
He said a multi-stakeholder approach was needed to tackle such issues.
Prince Albert of Monaco Photo By : Domnick Walsh © Eye Focus LTD
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