Dublin: Ireland is at the forefront of sending the message that all European countries will be saved from economic recession by the end of the year. The figures show that the country is in a better economic position than other countries. Ireland is expected to grow five times faster than any other European country.
Based on the European Commission report, Ireland will grow by 4.9% in 2023, one point higher than the November 2022 forecast.
Growth in the 27-member European Union is forecast to decline marginally (0.8 percent) this year, although the situation in 20 of these countries is improving despite economic slowdowns in many places as a result of the Russia-Ukraine war.
In the European Union, inflation is expected to fall from 9.2% last year to 6.4% this year and 2.8% in 2024. Similarly, in the Euro Area, it is forecast to fall to 4.4% in 2023 from 8.4% last year.
Despite the fact that many technology companies have cut jobs, the European Commission claims that Ireland has not been significantly impacted, which will contribute to economic stability.
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