The ESRI has warned that the economy could shrink by 7.1% and the unemployment rate could increase to 18% as a result of the COVID-19 crisis.
Under the current scenario outlined in its report, over 350,000 people would lose their jobs.
Ian Guider, markets editor of The Business Post, brought us this story and more in our daily business update, including:
- Trips to Ireland actually rose in February, according to CSO data
- Penneys suspend rent payments to landlords for 37 stores
- Wetherspoons suspends payments to suppliers in Republic
- Dixons Carphone online sales surge because of more people working from home
Listen to the interview in full by pressing the play button on this page.
