The Central Bank says it expects the economy to contract by 4.7% this year, as Ireland continues to be impacted by global recession and falling demand.
In its latest economic forecast, the Central Bank says the contraction will lead to significant job losses with 100,000 fewer people working by the end of the year.
The bank says unpalatable short-term measures are needed if the economy is to stabilise in 2010.
In one of the most negative outlooks published so far, the bank says the co... read more »
