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Ibec downgrades growth forecast for 2021 to 3.1%

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Ireland's economy will grow by 3.1% this year, employers' group Ibec is predicting, down from the 5.3% it said it was anticipating for 2021 just three months ago.

Although lower than previously forecast, the organisation thinks expansion will still be driven by an acceleration of the roll-out of the Covid-19 vaccine through the second half of the year and continued export growth.

That recovery will gather pace into 2022, with GDP set to increase by 4.3% buoyed by the release of a large volumes of savings into the economy, the body has forecast.   "An efficient vaccine roll-out might see the start of our recovery in the second half of 2021," writes chief economist, Gerard Brady, in Ibec's latest quarterly economic outlook.  "2021 will not

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