The Economic and Social Research Institute has insisted that the Irish economy remains resilient and that it will eventually rebound to grow at about 3.75% per year in the medium term.

The institute warned that there is a danger that Irish society could become transfixed by the ‘very real economic difficulties’ and miss the opportunity to plan for a better future in the next decade.

It insisted that the current downturn in the economy will not inflict any lasting damage to the country’s long-term growth potential.

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