Friday February 28, 2020

No-deal Brexit could wipe out growth next year

The ESRI warns that if trade disruption and turbulence in financial markets from a no-deal Brexit were particularly severe, it is 'not inconceivable' that the Irish economy could shrink in 2020

26th September, 2019
ESRI doesn't rule out supplementary budget next year

The Economic and Social Research Institute (ESRI) has said it is “not inconceivable” that the Irish economy could shrink next year in the event of a no-deal Brexit.

While the think-tank's headline forecasts in its latest economic commentary show GDP rising by 4.9 per cent this year and 3.1 per cent next year, these numbers are based on the assumption that the UK will effectively remain an EU member beyond October.

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