We’re entering the worst recession since the Great Depression of the 1930s according to new government figures.
The economy is expected to contract by more than 10 per cent this year – with unemployment forecast to reach its highest ever level at 22 per cent.
Things will recover a certain amount in the second half of the year – but the economy won’t return to pre-crisis levels until 2022.
The forecasts are based on the restrictions being in place for three months and get worse if they last longer.
Finance Minister Paschal Donohoe has said there are tough times ahead
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