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by KoolKat23
795 days ago
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GDP when it comes to Ireland is not the best measure, yes it was down in 2023 due to lower returns from pharmaceutical and contract manufacturing multinationals. Modified Domestic Demand, a better measure of the internal economy was up 0.5%, much better but will still be felt relative to the crazy highs Ireland reached the past few years. The new OECD tax agreement means GDP and tax will remain under pressure (tax surplus forecasts are being revised downwards). |
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The Irish Central Bank doesn't use GDP anymore because our tax haven status distorts it so much.