The Irish growth rate is slightly above the EU and eurozone averages, according to the European Commission’s spring economic forecast. While the forecast was upbeat, EU economy chief Paolo Gentiloni warned governments not to ‘prematurely’ withdraw state support from vulnerable people and businesses. The Irish forecast is in line with the government’s most recent predictions, which assumed 4.5pc growth this year and 5pc in 2022. Ireland was the only EU economy to grow in 2020, expanding by 3.4pc, the Commission confirmed on Wednesday. The EU estimates a 1.2pc boost in EU gross domestic product (GDP) in 2020-22 from the recovery funding.

Source: Irish Independent May 12, 2021 10:30 UTC