Image: Alamy Stock Photo Image: Alamy Stock Photo IRELAND’S BETTER-THAN-EXPECTED economic performance should ease the burden of the pandemic on the public finances but “significant investments” will be required to tackle long-standing issues around housing, climate change and healthcare.
Last month, the State’s budgetary watchdog raised concerns about the sustainability of Ireland’s debt to Gross National Income ratio, which it warned could top 100% at the end of 2021 after significant Government outlays on pandemic-related supports and emergency measures. Speaking to reporters, Professor Kieran McQuinn of the ESRI said “order is being restored to the public finances, arguably in a much quicker fashion than was previously thought”.
However, Professor McQuinn said the “crucial thing” is how the public finances are managed over the coming years. #Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to youOverall, the ESRI has pencilled in headline Irish growth, as measured by Gross Domestic Product of 12.6% this year and 7.1% in 2022 on foot of robust export growth and a consumer spending boom.