28.2 C
Accra
Wednesday, February 12, 2025
WorldIrish economy stronger than data indicates - Think tank

Date:

Irish economy stronger than data indicates – Think tank

Ireland’s economy is doing well, even though the main GDP numbers may not show it, according to a top research group.

The Irish economy’s size is mostly affected by the actions of big international companies.

This often makes the country’s economic growth rate seem higher than it really is.

However, the ESRI says the opposite is happening now.

The ESRI said that even though the economy has slowed down, there is still some growth happening.

At the same time, the big international companies that control a lot of the economy have slowed down. This is easy to see because there are fewer things being sold to other countries and not as much money being invested.

Pharmaceutical exports are going down.

The experts expect the country’s economy to shrink by about 3% this year, but the underlying domestic economy is predicted to grow by 0.

It was mentioned that the main thing causing Ireland’s economy to slow down this year is the decrease in the amount of goods being sold to other countries.

The biggest thing that the country sells to other countries is medicines, but this year the amount of medicines sold to other countries has gone down by 6%.

This is partly because big global drug companies sold a lot of drugs which became more common during the pandemic.

Ireland’s job market has gotten a lot better since the pandemic. The unemployment rate is now less than 5%, which is almost like everyone who can work has a job.

ESRI said that the small increase in the unemployment rate is probably just because some Ukrainian immigrants were reclassified in the statistics.

[forminator_poll id="710479"]

Latest stories

A review of Ghana’s value-added tax (VAT) system

Ghana’s Ministry of Finance has published a major new...

Mahama sacks Osafo-Maafo’s son along with three deputies

The government has annulled the appointment of Kofi Bosompem...

Public Service appointments after Dec 7 revoked by Chief of Staff

Chief of Staff Julius Debrah has issued a directive...

Chewing more than 20 packs of gum a day stops me from gossiping – Artiste Maame

Former Guinness World Records contender and mother of renowned...

Case withdrawals: Attorney-General to explain nolle prosequi decisions

Minister for Government Communications, Felix Kwakye Ofosu, has stated...

Drag us to court if you feel defamed – ORAL to concerned citizens

The Operation Recover All Loot (ORAL) Committee has challenged...

Water supply restored in Ho after weeks of disruption

Water supply has been restored to the Ho Municipality...

Related stories

“I still consider it my biggest failure” – Bill Gates on life after divorce

Bill Gates is speaking candidly about his divorce from Melinda French...

Kanye West reclaims title as wealthiest rapper, surpassing JAY-Z

Kanye West has reportedly reclaimed the title of the...

Meta offers TikTokers $5,000 to join Facebook, Instagram

Social media giant Meta has offered to pay up...

About 1,600 Capitol riot defendants pardoned by Trump

President Donald Trump has issued pardons or commuted sentences...

LIVESTREAMING: Swearing-in ceremony for Donald Trump

Today marks the beginning of Donald Trump's second term...

Inauguration Day schedule for Trump’s swearing-in ceremony today

Donald Trump will take the oath of office today...

WhatsApp to stop working on these devices in 2025

WhatsApp will soon cease supporting 18 Android models and...

LEAVE A REPLY

Please enter your comment!
Please enter your name here