Summary Q2 2023
Irish economy
EY expects Irish GDP to increase by 4.8% in 2023 and 4.3% in 2024. Ireland is expected to outperform many economies around the world in 2023.
Irish pharmacy awards
Fitzgerald Power would like to congratulate all the winners in this year’s Irish pharmacy awards, but in particular John O’ Shaughnessy of Woods CarePlus Pharmacy on winning the Reckitt Community Pharmacist of the Year Award 2023.
Global economic trends
The OECD has projected global GDP growth of 2.7% in 2023, which is the lowest annual rate since the global financial crisis and pandemic in 2020. Inflation remains high at 6.6% but is projected to fall to 4.3% by 2024.
Medicine supply issues
Ireland continues to be impacted negatively due to medicine supply issues in the last year, with 60% of respondents to
an Azure Pharmaceuticals poll answering they had been impacted by medicine shortages in the past year.
Inflation
Inflation in the eurozone was 5.5% in June 2023, a decrease from 6.9% at the end of the previous quarter. Energy prices have continued to drive the decline.
