The Exchequer has recorded a deficit of €7,473m up to the end of April 2020.
This is a €4,281m year-on-year deterioration in the Exchequer balance when compared with a deficit of €3,192m in the same period last year.
Tax receipts for last month showed a decrease of 8% on April 2019. This decline is primarily attributed to a decline in the Excise and Income Tax receipts.
Cumulative tax receipts at the end of April 2020 came to €15,485, down 0.6%.
Strong returns in the first two months of the year compensated somewhat for the serious decline in receipts in March and April.
An increase in expenditure to end-April to €20,043m was ahead of profile by €2,379m (13.5%). This was up €3,820m (23.5%) year-on-year.
This rise in expenditure reflects the increased drawdown - particularly in relation to the Department of Health and the Department of Employment and Social Affairs - due to the Covid-19 pandemic.
Minister for Finance Paschal Donohoe said that the latest Government report outlines a "sharp deterioration" in public finances as a result of the Covid-19 crisis.
"Today’s figures bear that out, with a fall in tax revenues and increase in expenditure," said Minister Donohoe.
"As I have said before, it is entirely appropriate that the Government uses fiscal policy to cushion the effect of the crisis in this way.
"It is a vital tool in helping to support individuals, businesses and communities through this difficult period.
"The Government is committed to continuing to provide support to ensure our economy recovers as quickly as possible from this crisis."