Posted 12/14/2023, 2:30:00 AM
ESRI: Ireland's Economy Can Withstand 2023 Budget Overspend But Recession Still Expected
- ESRI defends Government's €14bn budget spending plan for 2023, says economy can absorb it despite accusations of overspending
- ESRI forecasts recession in 2023 due to falling exports and investment, with GDP shrinking 2.7%
- But says strong job market and domestic economy means people won't feel pinch
- ESRI researcher defends breaking fiscal rules, says economy growing faster than rules allow for
- ESRI criticizes increased use of "non-core" budget lines and says budget will contribute to 2.9% inflation next year