What exactly is “the global crisis”?
It is a period of overlapping economic pressures: high inflation, tighter monetary policy, energy-market disruption, stretched supply chains and geopolitical uncertainty. These reinforce each other and create a more uncertain environment for households, businesses and governments.
Is Ireland in a recession?
That depends on the official definition and the most recent data. A recession is commonly defined as two consecutive quarters of falling GDP, but Ireland’s national accounts are heavily influenced by multinational activity, which can distort the picture. It is better to look at a range of indicators: employment, consumer spending, business investment, housing output and government finances.
Why are Irish energy prices so high?
Ireland imports most of its fuel. When global gas, oil and coal prices rise, wholesale electricity prices rise too. Network costs, carbon taxes and the structure of the Irish market also play a role. Efficiency, retrofitting and switching can help households manage bills.
Will interest rates keep rising?
Nobody can predict central-bank decisions with certainty. The European Central Bank sets rates based on inflation, growth and financial-stability data. Markets form expectations, but those expectations are often wrong. Households and businesses should plan for a range of scenarios rather than one forecast.
What help is available for Irish households?
Supports change with each budget. Past measures have included electricity credits, fuel-excise reductions, social-welfare increases and Rent Tax Credit. For current options, check Citizens Information, the Department of Social Protection and the SEAI websites.
What help is available for Irish businesses?>
Local Enterprise Offices, Enterprise Ireland, Údarás na Gaeltachta and InterTradeIreland offer advice, mentoring and sometimes funding. Revenue also provides guidance on payment arrangements. Eligibility varies by sector, size and location, so it is worth checking the official criteria.
Is now a good time to invest or buy a house?
That depends on your personal circumstances, risk tolerance and time horizon. No website can give you a reliable answer without knowing your full financial position. Speak to a regulated financial adviser or mortgage broker in Ireland before making major decisions.
How do I know your information is accurate?
We base our articles on public sources such as the CSO, the Central Bank of Ireland, the ECB, Eurostat and Irish government departments. We avoid anonymous claims and point readers to primary sources. If you spot an error, please let us know.