Irish Exchequer Returns 2011: Deficit of €24.9bn; Tax revenues €873m below target of €34.9bn; Interest on public debt at €5.4bn
Jan 4th, 2012 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Exchequer Returns: Tax revenues were €873m (2.5%) below the original Budget 2011 target of €34.9bn and were a little lower than the outturn as estimated in Budget 2012 in December according to the Department of Finance today. Interest on the public debt was €5.4bn. The Exchequer deficit in 2011 was €24.9bn compared to a deficit of €18.7bn in 2010 - - a €6.2bn increase in the deficit is due to higher non- capital expenditure resulting primarily from banking related payments.