Ireland's gross domestic product rose by 0.7% quarter-on-quarter in the fir...
DUBLIN - Ireland’s gross domestic product rose by 0.7% quarter-on-quarter in the first three months of the year to stand 5.8% higher than a year ago and put the European Union’s best-performing economy in a strong position ahead of a potential Brexit shock.
The growing risk prompted Finance Minister Paschal Donohoe to base next month’s budget for 2020 on the assumption of a no-deal Brexit, setting aside funds for vulnerable sectors and allowing the state’s finances to return to deficit. The Central Statistics Office said GDP was growing at a rate of 6.6% halfway through the year after quarterly growth for the first three months of the year was revised up a touch to 2.7% with the annual figure amended to 7.4% from 6.3%.
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