Oliver Mangan: Irish economy certainly not experiencing stagflation

Both the real economy and prices are showing rapid growth

Finance Minister Paschal Donohoe: The Department of Finance is projecting growth of 4.2% for the domestic economy and 6.4% in GDP.

The Irish economy has come through the Covid-19 crisis in good shape, with the very substantial fiscal supports amounting to around 20% of national income having played a key role in limiting the damage to the economy. 

Ireland has also benefitted from the favourable product mix in its large multinational sector, with a large presence of pharma, medical, technology, and financial services companies, which have seen very strong export growth over the past two years.