John Whelan: More support needed for businesses as recession threatens our trading partners

As the economy for the past few years has been buoyed up by export growth, without more targeted support for the sector, a hard landing for the economy may be difficult to avoid

Businesses will need more support, such as the export credit guarantee scheme, says John Whelan. Picture: Larry Cummins

Recession risks are now rising across Ireland’s main trading partners, with prospects for the British economy of most concern.

Our largest trading partners, the US, have warned of a potential recession with economists and financial market analysts forecasting an economic contraction during the first six months of 2023.