Irish economic growth will be reduced significantly this year by the impact of Level 5 lockdown restrictions, employers’ group Ibec has warned. In its latest quarterly outlook, Ibec said it was now expecting the economy to grow by 3.1 per cent in gross domestic product (GDP) terms this year. This is down from a forecast of 5.3 per cent three months ago and reflects the impact of ongoing Covid-19 restrictions. Minister for Foreign Affairs Simon Coveney said the “room is very narrow” for lifting restrictions and the Government would take a “cautious” approach. There are genuine concerns around a fourth wave.”* 29/03/2021: An earlier version of this headline gave an incorrect growth headline

Source: The Irish Times March 29, 2021 06:00 UTC