GDP growth projections to drop to 2.4% if Covid-19 restrictions remain past June

The Central Bank warned that the extension of public health measures into the second half of 2021 could mean dramatically reduced growth next year

31st March, 2021
GDP growth projections to drop to 2.4% if Covid-19 restrictions remain past June
The Central Bank’s quarterly bulletin for the first three months of 2021 produced projections in the event of an ‘adverse scenario’. Photo: Bryan Meade

Ireland’s GDP would grow by 2.4 per cent in 2022 instead of the currently projected 4.7 per cent if the existing public health restrictions extended into the second half of 2021, the Central Bank has said.

And while growth of 5.9 per cent is predicted for this year if the vaccine rollout goes as planned and allows for the re-opening of the economy, the regulator anticipated that GDP would grow by just 4.8 per cent in 2021...

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