Understanding the Irish Economy in a Time of Turbulence

Abstract

Since 2020, Ireland’s economy has experienced a sequence of three significant shocks, in the form of the pandemic, the cost-of-living crisis, and the invasion of Ukraine. Over that time the policy-system has demonstrated flexibility, responsiveness, and effectiveness.

Government and the policy-making system have attended to immediate pressures which arise on foot of these shocks, and found ways to prioritise and address the needs of the most vulnerable. The Council, in this report, seeks to complement that ongoing work by focusing on both the immediate and beyond, to provide an understanding of the economy in what are, truly, turbulent and unpredictable times.