Disorderly Brexit would hit Irish growth, jobs and public finances
Ireland’s economy, the best performing in Europe since 2014, could see GDP growth drop if a clean Brexit isn’t on the cards
Dublin — Growth in Ireland’s GDP could be 4.25 percentage points less than forecast by 2023 under a disorderly Brexit and swing state finances back into a modest deficit from this year, its finance department forecast on Tuesday. Ireland’s economy has been the best performing in Europe since 2014, but with close trading links with Britain, its export-focused economy is considered the most vulnerable among remaining EU members to the impact of its neighbour’s departure from the bloc. The assessment follows a similar warning from Ireland’s central bank on Friday that a no-deal Brexit could knock as much as four percentage points off the economy’s growth rate in its first full year and up to six percentage points over a decade. “It is important to recognise that such estimates may not capture the full impact, and the figures may be conservative,“ finance minister Paschal Donohoe said in a statement, citing the unprecedented nature of a sudden departure on March 29. Ireland’s economy wo...
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