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The economy of the Republic of Ireland is a highly developed knowledge economy, focused on services in high-tech, life sciences, financial services and agribusiness, including agrifood. Ireland is an open economy (3rd on the Index of Economic Freedom), [27] and ranks first for high-value foreign direct investment (FDI) flows. [28]
Ireland has boasted the fastest economic growth in the European Union for most of the past five years and a decade after being one of the worst hit by the global financial crisis it entered the ...
The economic contraction in Ireland ended in 2015, when the economy began growing. The economy began outpacing the rest of the European Union after this period. [102] The economy of Ireland continued to grow in 2022 rising by 11%, although projected to slow with the global recession. [103]
On 12 June, the Government of Ireland approved a €50m support package for beef farmers who experienced significant difficulty arising from the economic impact of COVID-19. [ 11 ] [ 12 ] On 14 May 2021, the 2021 National Ploughing Championships , due to have taken place in County Laois in September, was cancelled for a second year due to ...
Agriculture in Ireland is a major component of the modern economy of the Republic of Ireland. [21] A major livestock producer, Ireland has very limited horticultural and grain production on account of its topography and climate. Ireland manufactures many derivatives and value-added products from its livestock base.
In 2017 Dublin ranked 1st in Ireland by disposable income per person, at 110% of the State average. [1]In 2008, it was the city with the 2nd highest wages in the world, [2] dropping to 10th place in 2009, [3] and, according to a Brookings Institution report in 2012, had the 14th highest income per capita in the world at $55,578 (€42,960).
The Economic Recovery Plan 2021 is a €3.5 billion stimulus package announced by the Government of Ireland on 1 June 2021 to achieve rapid job creation and economic growth after the COVID-19 pandemic.
The July Jobs Stimulus is a €7.4 billion stimulus package announced by the Government of Ireland on 23 July 2020 in response to the economic impact of the COVID-19 pandemic in the Republic of Ireland. [1] [2] [3] The package includes 50 measures to boost economic recovery and get people back to work. [4]