Business Irish

Sunday 18 February 2018

Gilmore says road to recovery is 'very fragile' as Ireland slips back into recession

Tanaiste Eamon Gilmore
Tanaiste Eamon Gilmore

Michael Brennan Deputy Political Editor

TANAISTE Eamon Gilmore has said that the fact that Ireland is officially back in recession shows that the road to recovery is still "very fragile".

And he said it was another sign that Ireland needed help from EU countries in relation to a deal on its bank debt.

He was speaking in Brussels after revised figures from the Central Statistics show that the country was back in recession - with two quarters of consecutive falls in gross domestic product - for the first time since 2009.

Mr Gilmore said the country was making progress but there was still a lot more to do.

"I think what it does underscore is that the road to recovery is still very fragile and we have to keep working at it," he said.

Mr Gilmore said that there had been better news during the last quarter in relation to the number of people back at work.

"We've seen an increase in the numbers at work in the same quarter and that's very significant - an increase of 2,000 jobs per month in the private sector," he said.

The new figures overshadowed the fact that the Government has managed to negotiate a deal on the €960bn EU budget.

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