Exchequer returns fuel hope of beating deficit targets

Latest exchequer returns have raised hopes Ireland may beat its 2.7% of GDP budget deficit target for 2015.

The Department of Finance yesterday reported the generation of nearly €6.74bn in tax revenue for the first two months of this year, almost 16% up on the same period last year and 5.4%/€345m ahead of forecasts made in the last budget.

The figures also mean that the exchequer deficit amounted to just €205m as of the end of last month, compared to a deficit of €1.68bn at the same point last year.