Economic forecast sees GDP and jobs growth for next three years

Economic forecast sees GDP and jobs growth for next three years

The Republic of Ireland is set to create 91,000 net new jobs by 2020, according to the latest EY Economic Eye Summer Forecast.

GDP growth is expected to reach 2.6% in 2017 and an average rate of 2.6% between now and the end of the decade.

However, it notes that Brexit remains a serious threat to the economy.

Professor Neil Gibson, Economic Advisor to EY Economic Eye, said: "Six months on from our last forecast, there is no more clarity on exactly what shape Brexit will take, and in the absence of information on trade deals, customs and border plans, and migration policy, caution must be placed on any forecasts."

"The exit process for the UK is likely to be fairly bumpy, and although it makes clear economic sense to arrive at a sensible trade arrangement, that cannot be assumed.

"That said, the Republic of Ireland economy is enjoying a sustained period of job growth, and a healthy balance between exports, consumer and government spending suggests that the economy is well placed to meet these challenges."

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