Irish GDP to fall by 10.5% this year due to Covid-19

Paschal Donohoe said that Irish GDP is set to fall by 10.5% this year with the labour market bearing the brunt of the economic shock of the coronavirus outbreak.

This sets out a macroeconomic and fiscal scenario for 2020 and 2021 and which now incorporates the impact of the Covid-19 pandemic. Minister for Finance Paschal Donohoe says once the pandemic is contained we 'will recover', but says it may be 2022 before we see economic activity begin to resemble pre-Covid-19 levels | Follow live updates: https://t.co/fMXR2ZeRcR pic.twitter.com/xFawoF0M8w

Fianna Fáil's finance spokesperson Michael McGrath said the recovery would be linked to the easing of restrictions as the health emergency passed. Mr Doherty said this was done in the last crisis when "Fianna Fáil and Fine Gael made ordinary workers carry the burden".

Source: News Formal (newsformal.com)

CapitalPunishment for high Treason will be brought back to Ireland soon after an extensive investigation, for all Past Present politicians Gov.officials Foreign Domestic on Corruption CrimesAgainstHumanity CrimesAgainstchildren charges. WWG1WGA QArmy GreatAwakening

Stick your austerity where the sun don’t shine. This one is on the banks. Enough is enough

Wth did you expect. Asking g everyone to quarantine was worse decision.

And yet will leave borders open no doubt

Caused by many years of underinvestment in public services and payouts for millionaire bankers by fg.

Absolute Doom and Gloom merchant , why is he telling us something we really don’t want to know about and that is really only an educated guess The recovery will be based in part on consumer sentiment . The way he is talking will convince us not to spend money.Just stay nothing

they will destroy our country completely.

Did you give back the pay rise you got last week like Mary Lou did

So the public and civil service including the nurses, Garda, fire fighters and all the people who kept the country going will be facing pay cuts. Putting them back in the same position they were last time we had a recession

How much does this idiot get paid?

How's tht 8 grand payrise working out for you

You are in charge don't just sit there on sinking ship - do something about it - even copy conservative Denmark. Don't forget to arrange storage for the 2,500 ventilators (€75m - only a drop in the ocean - too late to cancel ?)

Sure Keelings are making a killing.

Lol,we still have not left the last recession.

Trying v hard to keep positive but news tonight v v upsetting..😥

So why was there an 8.5k salary rise for TDs pushed through last week?

Pay cut in your department to helps us out won't ya buddy

Will he please tell Simon Coveney to stop spending our money Just so the can get a pat on the back from his masters

😂

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