Institute delivers upbeat assessment of economy while warning of infrastructural bottlenecks in housing and other areas
The ESRI said 'substantial additional investment is going to be required' in the coming years if the demand for homes is to be met. Photograph: Dara MacDónaill delivered a broadly upbeat assessment of the State’s economic prospects for the coming year while warning that “infrastructural bottlenecks” in housing and other areas could erode competitiveness and limit capacity.
Overall inflation is decreasing on the back of falling energy prices and is expected to average 2.3 per cent this year and 2 per cent in 2025. This compares to 6.3 per cent last year.“Unlike 2023, we expect all major indicators of economic activity to register positive growth in 2024 and 2025 indicating likely stable growth over the period,” said the ESRI’s Kieran McQuinn.
“These include geopolitical tensions and their impact on global trade flows, dealing with infrastructure bottlenecks in an economy operating at capacity, and efficiently managing a small open economy with a very large multinational component,” it said.
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