• Wed. May 29th, 2024

Irish Economy Projected for Solid Growth in Next Two Years, but Infrastructure Bottlenecks Loom as Challenges Remain

BySamantha Jones

Mar 27, 2024
The economy of Ireland is expected to grow over the next two years.

According to the Economic and Social Research Institute (ESRI), Ireland’s domestic economy is projected to experience solid growth over the next couple of years. The institute expects modified domestic demand (MDD) to increase by 2.3% this year and 2.5% next year. MDD is a measure that removes the influence of multinational companies on Ireland’s economy.

Despite the challenges faced by the Irish economy in recent years, including slow growth in 2023 and negative effects of higher inflation on households, the ESRI anticipates a recovery in the next two years as global trade picks up. However, addressing infrastructure bottlenecks will be crucial for sustaining economic growth in Ireland in the coming years. These bottlenecks mainly involve issues in housebuilding, renewable energy, and public transport. For example, plans for an underground rail link between Dublin Airport and the city center have been in the works for over two decades and are now at the stage of public planning hearings.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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