Ireland’s economy is growing at the second-highest pace in the EU as multinational exports surge and the “very strict lockdowns” come to an end, the bloc said. The figures are an upward revision on previous EU forecasts, but are more conservative than last week’s Central Bank of Ireland forecast of 8.3pc growth this year. A planned EU digital tax also threatens to throw a spanner in the works, as the US is against singling out its big technology firms. Read MoreAnd US Treasury Secretary Janet Yellen is reportedly going to push for an even higher global minimum tax at the G20 meeting. Ireland was the only EU member to record positive GDP growth in 2020, thanks to exports from multinationals.

Source: Irish Independent July 08, 2021 01:30 UTC