Irish economy could grow by 5%

The economy could grow by up to 5% this year, according to EY.

It expects the labour market to recover to pre-pandemic levels by 2023.

The country recorded the highest growth of all major economies in the world in 2020 largely thanks to the huge number of multinationals based here.

EY Chief Economist Professor Neil Gibson believes people are getting ready to spend in the last six months of this year.

“We’re looking at a very strong period of growth as the vaccine rollout continues, and we see consumers beginning to spend again.

“With the government still providing a bit of support, trade doing very well particularly with Ireland’s strength in Pharma, agri-food and ICT, it looks set for a very strong period of growth in the latter half of the year, much needed given the year we just had.”

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