Government records €1.8bn surplus for first quarter of 2023

Muireann Duffy

The Government has noted a general surplus of €1.8 billion for the first quarter of this year.

Figures from the Central Statistics Office (CSO) show government revenue was up €3.3 billion on the same period of last year, topping €27.7 billion.

Expenditure was also up, rising to €25.9 billion following a €1.1 billion increase on Q1 of 2022.

It comes after a surplus of €5.2 billion for the final quarter of last year, and represents the fourth consecutive quarter of the government's finances being in the green.

The CSO noted the country's gross debt also reduced from €224.8 billion to €223.6 billion in the first three months of the year, while net debt fell to 180.2 billion from €185.6 billion.