Ireland will plunge into a deep recession this year as the coronavirus pandemic hits hard, it was warned yesterday.
The Economic Social and Research Institute (ESRI) said the economy could contract by over 7% – with unemployment soaring to a grim 18%.
In the largest shock in living memory, up to one in six workers will be affected, with 350,000 ending up on the dole.
And it could be worse later if Ireland doesn’t start to recover. Drastic measures like closing down businesses to slow the spread of the virus and save lives will have a huge impact.
The gloomy predictions are based on the shutdown staying in place for 12 weeks and the economy recovering afterwards.
The ESRI said Covid-19 is an even greater threat to Ireland’s prosperity than the financial crash more than a decade ago.
Our economy will contract by 7.1% in 2020 and this is on the back of a 5.5% growth last year.
Esta historia es de la edición March 27, 2020 de Irish Daily Mirror.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 27, 2020 de Irish Daily Mirror.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
THREE-FLOWING FOOTBALL!
Klopp has come up with a new dynamic triple threat on counter
MOORE'S MERRIER
Late, late leveller lifts new boss Darren
WE'VE GAT A GREAT CHANCE
Tompkins and Davies praise Gatland's clear vision and reckon 'the sky's the limit' for Wales
BYRNE: DON'T SEND ME TO BRITISH JAIL
Kinahan mobster fights extradition to UK over 'human rights'
Bruce wife: Our family's dementia heartache
'STAR MAY NOT BE AWARE HE HAS IT'
Killer Letby retrial over 'attempted murder of baby girl'
But heartache for other families
Garda chief confirms officer injured by Dail mob
A GARDA chief said an officer was injured in last week's Dail protests by a far-right mob.
Sophia so good
Hollywood great Loren doing well'after broken hip surgery
Eternal no more
Louise is accused of 'throwing bandmates under a bus' after quitting reunion in bitter row
Our lives will never be the same again..
Family mourns 'hero and son' struck by car