Gross Domestic Product

Ireland unveils pro-growth 2017 budget, forecasts Brexit hit

Ireland unveiled a growth-oriented 2017 budget on Tuesday that builds on the country's rapid recovery from an international bailout with 1.3 billion euros ($1.45 billion) of spending increases and tax cuts.

Finance Minister Michael Noonan told lawmakers that he expects Ireland's economy to grow 4.2 percent this year and a more modest 3.5 percent next year because of the negative impact of the United Kingdom's planned exit from the European Union.

Ireland's export-focused economy, driven by the operations of about 1,000 high-tech multinationals, is once again the fastest growing in Europe following the country's 2013 emergence from a banking crisis.

But Ireland's...