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Disorderly Brexit to knock 4 pct Ireland's economic growth, says Central bank


Devdiscourse News Desk dublin Ireland
Updated: 13-02-2019 15:30 IST
Disorderly Brexit to knock 4 pct Ireland's economic growth, says Central bank

The bill seeks to increase the backward classes' reservation from the present 21 per cent to 26 per cent with five per cent reservation to Gujjars, Banjaras, Gadia Lohars, Raikas and Gadaria. Image Credit: Flickr

A sudden, no-deal Brexit next month would have a very severe and immediately disruptive effect on almost all areas of Ireland's economy, the head of the country's central bank said on Wednesday.

The central bank forecast last month that if Britain left the European Union without a deal, it could knock as much as 4 percentage points off the economy's growth rate in its first full year and up to 6 percentage points over a decade.

"A sudden, no-deal scenario would have immediate disruptive effects that would permeate almost all areas of economic activity. The agri-food sector would be disproportionately affected, with a corresponding outsized impact on rural regions, especially near the border," Philip Lane said in a speech.

(With inputs from agencies.)

COUNTRY : Ireland

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