Economic Briefing Report

The Great Lockdown

While it took the pandemic three months to change the economy, its impacts will be felt for far longer. There is still tremendous uncertainty about the future, but the first projections of the economic contraction are out. NIESR forecasts that GDP will fall by 7% in 2020, but rise by 7% in 2021. It’s projected that without the fiscal stimulus measures, GDP would have lost other 2 pctg pts.

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