The forecast tallies with that of Minister for Finance Paschal Donohoe who expects a spending boom as the economy reopens.
The recovery will be differentiated across different sectors of the economy. The multinational sector has done exceptionally well and has excelled. The wage subsidy schemes will be wound down over the coming four months, and it will pose challenges for businesses. "I think we have to remember that the Government has been very agile and aggressive in terms of the amount of supports they have given to households and businesses.
"Also, there's been a big increase in wage inflation – it's now running at levels that we haven’t really since the pre-global financial crisis period," Mr O'Leary said.
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