Ireland doubles 2021 economic growth forecast, budget plans unchanged

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FILE PHOTO: A closed pub called Reil’s is seen closed due to government restrictions around the coronavirus, amid the coronavirus disease (COVID-19) pandemic, in Dublin, Ireland, September 3, 2020. REUTERS/Clodagh Kilcoyne
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DUBLIN (Businesshala) – Ireland’s finance ministry doubled its forecast for economic growth and expansion in domestic demand this year, citing a very strong economic recovery from the disruption caused by the COVID-19 pandemic to Thirdsea.

GDP rose 21.6% year over year in the second quarter as Ireland reopened from lockdown, data showed this month, although the government said domestic demand growth of 15% was a more accurate gauge of the economy.

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Finance Ministry chief economist John McCarthy said he would not read too much into the forecast for GDP growth of 15%-16% this year, as multinationals could distort Irish GDP, but rather on a 5.2% growth in revised domestic demand. can focus.

Reporting by Padraic Halpin; Editing by Edmund Blair

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