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The head of the National Treasury Management Agency said he is not worried about the next four years from a borrowing perspective but that the state needs to prepare for the decade after that due to an increase in already high debt levels.  “While addressing Covid-19 is today’s urgent priority, Ireland should prepare for dealing…

Seasonally adjusted exports decreased by 32% to €11.613 billion in April from March, according to preliminary figures from the Central Statistics Office, as Covid-19 shutdowns hit the trade sector.  This marked the biggest one month contraction on record. The CSO said that seasonally adjusted goods imports decreased by 11% to €5.834 billion.  This resulted in…

Retail outlets in shopping centres around the country are reopening for the first time since they were forced to close due to Covid-19 restrictions nearly three months ago. However, the shopping centres and shops must adhere to guidelines around social distancing and hygiene, while also taking steps to ensure customers do not congregate in malls.…

Sterling steadied near two-week lows against the dollar and euro as fears of a second wave of coronavirus hit risk sentiment and global markets. Investors were also nervous ahead of a key meeting on Brexit negotiations. A fresh coronavirus outbreak in China and rising infection numbers in the United States – even as major economies…

The number of people receiving the Covid-19 Pandemic Unemployment Payment has fallen to 515,700 – down 15% on the peak of almost 600,000 during the economic shutdown. For the first time, more people are in jobs subsidised by the Temporary Wage Subsidy Scheme than are receiving the PUP. At the peak of the Covid-related unemployment…

Companies that reopened under the first phase of the lifting of Covid-19 restrictions are experiencing less than half their usual level of business activity for this time of the year, a new survey has found. The survey of businesses across the country also found that a quarter of respondents expect to have earnings that will be…

Retailers in Dublin are reporting steady progress in opening up the city centre since Covid-19 restrictions on all shops were lifted on Monday. Today footfall was around 160,000 people, up from 100,000 on Monday. However, although footfall today was up substantially on the almost 95,000 of Wednesday last week, it is still down considerably on the 400,000 on…

The OECD has said that the Irish economy is set to contract strongly in the first half of this year due to the Covid-19 lockdown as it urged the Government to be prepared to extend existing support measures if required.  In its latest economic outlook, the Organisation for Economic Cooperation and Development said that GDP…

Thousands more businesses across the country have opened their doors for the first time in nearly three months, as the second phase of the Government’s plan to get the economy moving again gets under way. All retailers with their own on-street entrances are allowed to resume in-person trade, but opening times and how they operate…

The Director of Consumer Protection with the Central Bank said new rules for licenced moneylenders will enhance and strengthen protections for customers of these services. Under the new measures, all advertisements for high cost loans with an APR over 23% must include “prominent warnings” and prompt consumers to consider alternatives. While the majority of the regulations will…