Ireland is only “technically” in a recession, according to Public Expenditure Minister Paschal Donohoe.in gross domestic product in 2023, confirming a recession in the country.today, the Fianna Fáil TD addressed concerns around shrinking GDP, calling it a “technical matter”.“We all define what a recession can look like by where we are with employment and what the Government is ablet to do with the funding in of our public services and the health of our public finances.
The current recession is due to a shrinking GDP, rather than a shrinking gross national income , according to Mr Donohoe. While the companies are “so important to us from an employment perspective”, Mr Donohoe argued public finances remain strong. “If you run out of money and your construction sector flees to the four corners of the world, it takes years to build it back which is why for me my defining lesson in politics continues to be keep your public finances safe.
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