State to reach €26bn surplus over next two years

Government to revise economic growth forecasts as energy prices have “reversed more rapidly” than previously assumed

Minister for Public Expenditure Paschal Donohoe and Minister for Finance, Michael McGrath will update economic forecasts this afternoon.

The Government is forecasting a €10bn surplus this year followed by a more than €16bn surplus next year on the back of soaring corporation tax receipts.

The Government published its Stability Update Programme today with updated figures for economic growth.