Perhaps unaware of the loaded nature of the term in Ireland, the International Monetary Fund in its recent review on the economy said it believed it was heading for a “soft landing.” Similar reassurances were given to the Irish public before the financial crash. Fortunately, there is no reason to expect history to repeat itself, even if economic prediction has been largely worthless over the last few years given the series of unexpected shocks which have hit.
After Covid-19 and its aftermath and the war in Ukraine, 2023 did see a return to stability of a kind. The war in Gaza caused some nervousness late in the year, though the geographically contained nature of the conflict meant its economic impact has been limited to date. That said, geopolitical factors continue to loom large in economic forecasting.
Economic growth in Ireland has slowed as the year went on due to two main…
