Ireland's population explosion

Nation could have 7.59m inhabitants by 2065

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IRELAND'S population could grow much faster than previously expected, according to new scenarios published by the Department of Finance.

In a high growth scenario, Ireland could have 7.59 million inhabitants by 2065, up from the current level of 5.45 million.

The estimate is significantly above most recent projections from the Central Statistics Office.

John McCarthy, the Chief Economist of the Department of Finance, said the department's estimate was higher due to larger forecasts for immigration.

In a central growth scenario, the population would reach 6.7m by 2065 and in a low growth estimate it would be 6m.

The department produced the estimates to ensure the Government is prepared for Ireland’s changing demographics.

Mr McCarthy said: “One of the reasons we are where we are with housing is the population.”

An increasing old-age dependency ratio would put pressure on the public finances, with rising costs for pensions, healthcare and social services.