High economic growth rate forecast for Ireland in 2021

Ireland is set to have a high economic growth rate compared to other EU countries in 2021.

That’s according to the European Commission’s Autumn report on the bloc’s economy which was published today. It states that Ireland’s economy is projected to grow by 14.6% in 2021. But that growth rate is projected to drop to 5.1% in 2022 and to 4.1% in 2023.

The report states that GDP growth in Ireland this year is driven by the activities of multinational companies and supported by a domestic recovery. The report says that private consumption is rebounding in Ireland as households’ saving patterns normalise. Domestic investment in construction in particular, is expected to register robust growth over the forecast horizon according to the report.

The EU Economy Commissioner Paolo Gentiloni today said the overall EU economy is forecast to grow over the next few years.  

Out words: fuelling expansion

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