Mairead McGuinness650 views

Mairead McGuinness MEP and first Vice-President of the European Parliament said the new Almac Group facility bringing 100 jobs to Dundalk over the next two years was a very positive signal.

“This is very welcome news for the town and for the region and adds to its strong and growing reputation in the pharmaceutical sector,” she said.

“All economic and jobs forecasts are in very positive territory with the Central Bank in its quarterly bulletin released today, while paring back for the Brexit impact, is still forecasting  gross domestic product (GDP) to expand by 3.3pc this year with strong employment growth over the next two years and the unemployment rate dropping from 8pc to just over 6pc.”

Ms McGuinness said Ireland’s strength in the financial sector was also underpinned today with Barclays indicating that Dublin could be its main hub inside the EU after Brexit.

“However, we are very mindful that Brexit also contains risks, especially for the food and farming sectors. The current intensive efforts will continue to ensure we get the best outcome for communities on both sides of the border,” she said.

Over 40 percent of Irish food and drink exports go to the UK – the sector has already been exposed to the fall in the value of sterling following the Brexit vote, she said.