A no-deal Brexit will cost the Irish economy hundreds of jobs and billions of euro, according to a report from the Economic and Social Research Institute (ERSI).
The report highlights how Brexit will be a catastrophe for the Irish economy and puts the cost of Brexit at 0.6% of GDP after two years, even with a deal.
An orderly Brexit without a deal is forecast to cause a 1.2% hit to GDP after two years while a disorderly unplanned no deal would increase this short-term hit to 2.4% of GDP.
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After 10 years, the impact of a Brexit deal is forecast to be at best a 2.6% drop in GDP. This rises to 4.8% if there is a no deal and 5% in a disorderly no deal.
It should be noted that the ESRI is forecasting that the Irish economy will keep growing over the next 10 years, but at slower rate than it otherwise would.
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A no-deal Brexit will cost the Irish economy hundreds of jobs and billions of euro, according to a report from the Economic and Social Research Institute (ERSI).
The report highlights how Brexit will be a catastrophe for the Irish economy and puts the cost of Brexit at 0.6% of GDP after two years, even with a deal.
An orderly Brexit without a deal is forecast to cause a 1.2% hit to GDP after two years while a disorderly unplanned no deal would increase this short-term hit to 2.4% of GDP.
After 10 years, the impact of a Brexit deal is forecast to be at best a 2.6% drop in GDP. This rises to 4.8% if there is a no deal and 5% in a disorderly no deal.
It should be noted that the ESRI is forecasting that the Irish economy will keep growing over the next 10 years, but at slower rate than it otherwise would.
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