⁍ Irish gross domestic product is set to fall by just 2.5% this year, not the 10.5% estimated in April.
⁍ The unemployment rate is still set to average almost 16% this year and then drop to 10.7% during 2021.
⁍ The rebound in GDP and modified domestic demand in 2021 will not be as sharp as previously forecast.
– The Irish economy is emerging from its worst recession in living memory, according to the country’s finance ministry, which predicts the country’s GDP will fall by just 2.5% this year. That’s far less than the 10.5% the ministry predicted in April and significantly better than the 15.1% the economy was predicted to fall by in April, reports the Irish Times. The ministry also revised the unemployment rate downward, predicting it will average 16% this year before dropping to 10.7% in 2021.
Source: https://www.reuters.com/article/ireland-economy/ireland-sees-gdp-fall-of-just-25-in-2020-slower-rebound-in-2021-idUSS8N2FS08P