Business Irish

Friday 23 August 2019

End of April budget deficit was €3.2bn

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Donal O'Donovan

Donal O'Donovan

THE State recorded a deficit of €3.19bn in the four months to the end of April 2019, but remains on course to end the year in surplus after last year's first balanced budget in a decade.

Tax revenues were €15.57bn in the period to the end of April, broadly in line with expectations. Total net voted expenditure - day-to-day budget spending - was €16.244bn for the same period. Non-voted expenditure - which includes interest on the national debt and other bills that cannot be cut by Government - was €4bn. That was €115m higher than last year, mainly because the Irish contribution to the EU budget has gone up in line with the increased size of the economy.

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While April tax figures were volatile, overall Exchequer returns remain "relatively healthy, almost 6pc ahead of last year and broadly in line with forecasts", according to Peter Vale, of Grant Thornton.

Irish Independent

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