The EU's latest economic forecast is predicting continuing strong growth for Ireland this year and next.

The European Commission's Spring Economic Forecast describes the Irish economy as one of Europe's top performers.

It's predicting that domestic demand will overtake exports as the main growth driver here.

But it's warning that the high level of private debt could dampen consumer spending.

The reports says that economic growth in the European Union is benefitting from positive economic tailwinds.

According to the European Commission's Spring 2015 Economic Forecast, Europe’s economies are benefitting from many supporting factors at once. Oil prices remain relatively low, global growth is steady, the euro has continued to depreciate, and economic policies in the EU are supportive.

The report says GDP in 2015 is now expected to rise by 1.8 % in the EU and by 1.5 % in the euro area, respectively 0.1 and 0.2 percentage points higher than projected three months ago.