## Ireland: 2021 Article IV Consultation-Press Release; and Staff Report

_IMF Staff Country Reports, June 16, 2021_

## Source details

**Canonical URL:** [Ireland: 2021 Article IV Consultation-Press Release; and Staff Report](https://www.imf.org/en/publications/cr/issues/2021/06/15/ireland-2021-article-iv-consultation-press-release-and-staff-report-460782)

## Other formats

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## Bibliographic details
- Published: June 16, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513587233.002

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### Macro-fiscal and economic overview
- Ireland entered the COVID pandemic with reduced vulnerabilities and high growth, especially in multinational enterprises (MNEs)-dominated sectors.
- The pandemic had a highly asymmetric impact on the economy:
  - Domestic sectors contracted by about 10 percent in 2020.
  - Unemployment reached 30 percent at the peak of the first wave.
  - MNEs continued to grow strongly, driving overall GDP growth to 3.4 percent.
- A swift policy response has been effective in mitigating the crisis impact and protecting households and firms.

### 2021 outlook and projections
- Domestic sectors are expected to partially recover in 2021.
- GDP growth projected at 4.6 percent for 2021.

### Risks and uncertainties
- Downside risks identified:
  - Uncertainties surrounding new COVID variants.
  - Post-Brexit trade arrangements.
  - Likely changes in international taxation.

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## Content in this bundle

- **1irlea2021001**
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_Source: https://www.imf.org/en/publications/cr/issues/2021/06/15/ireland-2021-article-iv-consultation-press-release-and-staff-report-460782_