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Irish economy to see reduced growth in 2020

The Republic of Ireland economy is set to grow at a slower rate next year, economist Petrox Petros Varthalitis of the Economic and Social Research Institute has predicted.

The Irish economy saw GDP increase by almost 6% in 2019, but this is expected to fall to 3.3% in 2020.

Varthalitis said the Brexit process has merely been parked, with the possibility of a free trade agreement being negotiated between the UK and the EU in 2020.

This will almost certainly result in further uncertainty in the years ahead.

Another potential challenge for the Irish economy is the issue of corporation tax receipts, which are becoming an increasingly large share of the total tax receipts of the Irish exchequer.

Meanwhile in the past 10 years both property prices and rents have grown at significantly different rates in different areas of the country.