Oliver Mangan: Covid leaving deep scars on Irish economy, but glass still half full, not half empty
The Central Bank expects the economy to grow strongly despite unemployment and housing remaining key concerns.
The past couple of weeks has seen updated forecasts published by both the Central Bank and the ESRI on the prospects for the Irish economy. Both strike very upbeat notes for a broad-based, strong recovery in activity, with significant upgrades to their previous forecasts published only three months ago. The ESRI sees GDP growth at 11% this year, with the Central Bank at 8.3%.
Robust growth is forecast to continue next year, with GDP predicted to rise by 6.9% and 5.4% by the ESRI and Central Bank, respectively. Further strong growth is expected in 2023. A very strong export performance is expected this year, and the domestic economy is also starting to pick up.
