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• An Exchequer surplus of €1,643 million was recorded In January 2019. This compares to a surplus of €1,529 million in the same period last year. The €114 million year-on-year improvement in the Exchequer surplus is primarily due to increased tax revenues and non-tax revenues, which to some extent is offset by increases in voted and non-voted expenditure.
• Tax revenues of €5,370 million were collected in January 2019, an increase of 7.0% or €351 million on January 2018. This year-on-year improvement was driven by strong performances in VAT and income tax in particular

Fiscal Monitor Incorporating the Exchequer Statement January 2019