Government record €823m deficit to end of June

New Exchequer figures show the Government recorded a deficit of €823m to the end of June.

This compares to a surplus of over €2bn for the same period last year.

However, the Departments of Finance say when adjusted for sale of AIB shares last June, the exchequer balance is down by just €323m.

Meanwhile, tax revenues are up 5.4% and gross expenditure on public services and infrastructure is also up 7.6% year-on-year.

Minister for Finance and Public Expenditure and Reform Paschal Donohoe said the figures "represent solid performance underpinned by an improving economy".

He added: "This in turn translates into strong revenues which are funding the delivery of our public services and investment in key infrastructure. Today’s figures provide a basis for the achievement of Budget day tax forecasts by year-end.

"Tax revenues have performed robustly and at €24.9 billion represent a 5.4% year-on-year increase, which is slightly ahead of expectations. Reflecting our broadly-based recovery, most tax headings have recorded annual growth."

Digital Desk

Related Articles

More in this Section

British Airways to give plane 1960s-era makeover to celebrate centenary

Donohoe nominates Philip Lane for ECB executive board

Investment in Internet of Things will ramp significantly in 2019

Google fined €50m under EU data privacy law


Everything you need to know about the grapes you’ve been pronouncing the wrong way

The dos and don’ts of being a vegan gardener

As Kayla Itsines hits back at Internet trolls – is it safe to lift weights when you’re pregnant?

Video: This is what happens during a ‘vampire facial’ – the anti-ageing treatment loved by celebs

More From The Irish Examiner