Analysts: Coronavirus to cost exchequer €30bn if lockdown extended beyond 12 weeks

Oliver Plunkett St in Cork pictured last week. Picture: Eddie O'Hare

The cost to the State of the Covid-19 crisis will likely reach €30bn this year should the shutdown of large parts of the economy extend beyond the current 12 weeks, leading economists have said.

Kieran McQuinn, research professor at the Economic and Social Research Institute, said the State can afford to fund the range of unemployment payments and business supports over a lengthy period from its own resources.