Tom McDonnell: Economic recovery is coming but no going back to old ways

The pandemic has permanently changed the future trajectory of the global economy with the acceleration of digitalisation and remote working

The easing of lockdown marked the beginning of what will be a prolonged economic expansion; the economy should grow by close to 8% this year and somewhere in the region of 6% next year. Picture: Eddie O'Hare

The economy is on the cusp of a rapid and sustained recovery but formidable challenges and transitions lie ahead.

We are now well over one year into the worst global pandemic in a century: Millions have lost their lives; Covid has caused unprecedented disruption to families, societies and economies; and there has been a sharp rise in extreme poverty across the globe, particularly within emerging economies.