ESRI forecasts budget to reach balance soon

The Government is on course to balance its budgets sooner than anticipated, the ESRI has forecast.

The think-tank is forecasting a budget deficit of 1.1% of GDP for 2015, with that shortening to 0.5% — or €1.2bn — next year.

That prediction is based on its overall forecasts being realised and that the strong level of corporation tax receipts prove not to be a temporary boost.