Reasons to be cheerful:five reasons the Irish economy can rebound
Smart Money: Ireland’s lockdown has been long – but the economy has some hidden strengths
A hopeful-sounding message on Chatham Street in Dublin: there are reasons for economic optimism. Photograph: Dara Mac Dónaill / The Irish Times
Dublin’s Henry Street during Level 5. New Central Bank research estimates half, or €5 billion, of pandemic savings could be spent after restrictions are lifted. Photograph: Dara Mac Dónaill / The Irish Times
The economy has taken a severe hit from the lengthy lockdown still underway. But the Irish economy has some advantages and hidden strengths which can help it rebound, once restrictions start to ease. Here are the five key factors which can boost recovery.
1. The vaccines are coming
As the vaccine programme proceeds, some tipping points should be reached where first deaths and then hospitalisation and cases fall. The Government is underplaying the potential vaccination numbers – it appears. In turn as the tipping points are reached, reopening can happen.