DUBLIN, April 7 (Reuters) – The Irish economy is likely to start recovering from a coronavirus pandemic “later in the summer” with the help of significant government spending, Deputy Prime Minister Simon Coveney said on Tuesday.
“We have to make sure that the (economic) wave rises, which will start later in the summer I suspect, will lift all ships,” Coveney told RTE radio. “But it’s not easy and the country has to borrow a lot of money and have a significant deficit for a certain period of time.”
There are currently 730,000 unemployed people in Ireland and 130,000 people have 70% of their salary subsidized by the government, said Coveney. (Reporting by Conor Humphries; Editing by Catherine Evans)
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