“Brexit Is Not The Only Risk”


From the Central Bank’s latest quarterly report published today

The Central Bank published its latest quarterly bulletin this morning.

From the report:

“Following a strong performance last year, the growth of the Irish economy is projected to moderate somewhat in 2019 and 2020, reflecting both the impact of a less favourable and more uncertain international environment and also the limits imposed by domestic capacity constraints as labour market conditions tighten.

“…The central projection continues to assume that a disorderly, no deal Brexit scenario can be avoided and that trading relationships between Ireland and the UK remain unchanged over the forecast horizon.

“…A disorderly, no deal scenario would have very severe and immediate disruptive effects, with consequences for almost all areas of economic activity. ”

“…However, Brexit is not the only risk to the Irish economic outlook. On the external side, there continue to be other downside risks facing the Irish economy. The international economic outlook has weakened since the publication of the last bulletin.

“Given the position of Ireland as a small, highly open economy and the important role of multinational firms within the economy, the evolution of global economic and trading conditions and movements in major exchange rates will have an important bearing on Irish economic performance.”

Quarterly Bulletin (Central Bank)

Central Bank slightly reduces estimates for economic growth this year (RTE)

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