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Government estimates unemployment rate of 7.3 percent for this year The Government estimates that the unemployment rate this year will be 7.3%, above the 6.8% that ended the year 2020, according to the Stability Programme (SP) The announcement was made by the Minister of State and Finance, João Leão, after approval in the Council of Ministers of the 2021/2025 Stability Programme, constituting a downward revision of the previous forecast, of 8.2 percent. The minister justified the increase with "the return of the active population," which will contribute to "the normalisation of economic ac...

John FitzGerald: Corporation tax changes may pack more punch than Covid Shift in Biden policy on offshore firms could be minor gain for US but huge hit for Ireland about 2 hours ago   When Ireland’s low corporation tax strategy was conceived in the 1950s, it was aimed at stimulating growth at the expense of tax revenue. Today it has, instead, been transformed into a huge source of tax revenue for the government, while it has a relatively minor role in driving employment growth. Karlin Lillington commented on this changed role in her column last week: there are now many more important reas...

Updated: 14 Apr 2021, 18:08 IRELAND’S unemployment rate will not recover to pre-pandemic levels until at least 2023, a new Department of Finance report has predicted. However, Ireland will not see an “austerity budget” for 2022, Public Expenditure Minister Micheal McGrath claimed, as there are “solid grounds for optimism” that the economic recovery will start later this year. 2 2 Finance Minister Paschal DonohoeCredit: PA The Government yesterday published a Stability Programme Update which outlines the catastrophic damage that Covid-19 has done to the public purse. The Department...

(Adds quotes, details) LISBON, April 15 (Reuters) - Portugal’s government has cut its 2021 economic growth forecast to 4% from 5.4%, the finance minister said on Thursday, after a severe worsening of the coronavirus pandemic at the start of this year forced a nationwide lockdown lasting over two months. Joao Leao also told a news conference the budget deficit should reach 4.5% of gross domestic product this year, up from the previously forecast 4.3%. The Bank of Portugal estimated in March that growth would reach 3.9% this year. The new estimates were laid out in the so-called Stability Pro...

Portugal's government cuts 2021 growth outlook to 4% due to lockdown Reuters 5 hrs ago LISBON, April 15 (Reuters) - Portugal's government slashed its 2021 economic growth forecast to 4% from 5.4%, the finance minister said on Thursday, after a severe worsening of the coronavirus pandemic at the start of the year forced a nationwide lockdown lasting over two months. Finance Minister Joao Leao told a news conference, however, the government expected "a strong recovery in the second half of the year", projecting also that public debt should fall below 120% of gross domestic product in 2024 fro...