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Deficit falls to €13.5bn

THE Government's deficit for 2012 was €13.5bn – the equivalent of 8.2pc of the country's GDP.

Figures released by the Central Statistics Office (CSO) showed there was a significant improvement on the 2011 deficit of €21.35bn, which was 13.1pc of GDP.

Meanwhile, Government revenue in 2012 increased to €56.5bn from €55.33bn the previous year.