CSO figures point to €18.4bn deficit for last year ahead of Government outlining new economic outlook

Finance Minister Paschal Donohoe will update Department of Finance economic forecasts for the public finances on Wednesday.

The Government suffered a deficit of €18.4bn last year on the back of its unprecedented Covid support spending splurge, preliminary CSO figures show.

The figure – which comes ahead of the Department of Finance updating its economic forecasts for the public finances on Wednesday – marks a €20.2bn swing from the €1.8bn surplus recorded in 2019.