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Economy forecast to contract by 8% in 2020

Ireland business Coronavirus
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www.rte.ie
rte.ie:

Ireland's economy will contract by 8% in 2020 and expand again by 6% in 2021 as the coronavirus pandemic takes its toll, according to the European Commission's latest economic forecast.

The economic uncertainty has been compounded by "specific" Irish factors, such as Brexit and changes in international taxation, the outlook says.

Overall, Ireland's unemployment, deficit and debt levels will rise, but there are some consolations, such as the performance of the Irish pharmaceutical and medical sectors.

Unemployment is expected to rise to 7.5% this year but recover to pre-crisis levels by the last quarter of 2021, the report says.

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United States
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Deaths: 750 423
Recovered: 0
India
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Brazil
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Russia
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