Irish National Deficit Lower Than Expected In 2021

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Minister for Finance says the end-year exchequer returns show that the national deficit was lower than expected last year.

The Government yesterday published an update on the State’s finances at the end of 2021. 

This reflects several factors, including stronger corporate tax receipts, underspending in voted public expenditure and the more rapid than anticipated recovery in the domestic economy, in particular, the labour market.

Paschal Donohoe cautioned that the economic and fiscal outlook has become increasingly uncertain in recent months following the emergence of the highly transmissible omicron variant of the virus.

The Fine Gael TD says it’s essential that we move away from generalised supports and transition towards more targeted fiscal measures