Exchequer deficit pegged at €8.9bn in November lockdown 'shows strength of Covid-hit economy'

Government on target to meet its deficit target of around €22bn this year

Minister for Public Expenditure and Reform Michael McGrath. Picture: Stephen Collins/Collins Photos

Tax revenues of over €8.5bn collected in November show the resilience of the Irish economy during the Covid crisis and the Government looks set not to bust its budget deficit target, despite the additional costs of November's lockdown, leading economists have said.     

Dermot O'Leary, chief economist at Goodbody, said that the Government was on target to meet its deficit target of around €22bn this year, despite the cost of further business supports and the level 5 restrictions that led to an exchequer deficit of €8.9bn in the month.