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• Budget 2017 forecast a General Government Deficit for 2016 of 0.9% of GDP. The exchequer figures for end-2016, released today, support that forecast and also represent an improvement over 2015 when a deficit of 1.9% of GDP was recorded. This brings the public finances closer to a balanced budgetary position.
• Taxes received in 2016 were ahead of the profile for the year (+€639 million or +1.4%) and ahead of taxes collected in 2015 (an increase of €2,263 million or +5.0%). Ireland’s costs of debt servicing have also fallen by 0.3 billion year on year.
• Importantly, receipts on the four major tax heads grew year on year and three out of four finished the year ahead of target.
• Expenditure for the year 2016 came in in line with expectations and showed an increase over the levels of service provision on 2015.

See the Department of Finance website for further information.