However, it doesn't expect to see the unemployment rate fall back to pre-COVID rates until late 2023 at the earliest.
The Irish economy's set for a 'robust recovery' this year despite the pandemic, according to the ESRI.
The think-tank expects Ireland's GDP to grow by 12.6 per cent this year.
As public health measures are beginning to ease, it anticipates a return to more normal economic activity by December.
The ESRI expect the unemployment rate to fall to 9 per cent in Q4 2021 and average 16.3 for 2021 overall.
It doesn't expect to see the unemployment rate fall back to pre-COVID rates until late 2023 at the earliest.
However research professor with the ESRI, Kieran McQuinn, is warning there are challenges ahead:
Today we publish the latest Quarterly Economic Commentary. Strong exports and multinationals are contributing to double-digit GDP growth. However, there are challenges ahead with housing, climate change, and healthcare. Read the report on our website: https://t.co/FaJ1nuwF48 pic.twitter.com/IMv0KqStZE
— Economic and Social Research Institute (ESRI) (@ESRIDublin) October 7, 2021
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