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ga - End Year Exchequer Returns January 2017

  • 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.