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Ireland raises privacy question over Facebook smart glasses
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By Reuters Staff
2 Min Read
DUBLIN, July 1 (Reuters) - Ireland’s central bank on Thursday raised its growth forecast for 2021 for the second time this year as the progress of the COVID-19 vaccination campaign, improving consumer sentiment and international tailwinds set the scene for a strong recovery.
In its latest quarterly report, the Central Bank revised its forecast for GDP growth for this year to 8.3%, from 5.9% three months ago.
The move comes after exports by large technology and pharmaceutical firms swelled annual GDP growth in the first quarter to 11.8%.
The Central Bank expects GDP growth of 5.4% in 2022 and 4.8% in 2023.
The bank is seeing a “widespread improvement of consumer and business sentiment” as Covid-19 restrictions are relaxed and vaccines are rolled out, said Director of Economics and Statistics Mark Cassidy.