Home > Financial > Government deficit forecast at €19bn

Government deficit forecast at €19bn

Written by Robert McHugh, on 6th Jan 2021. Posted in Financial

article headline

The Department of Finance indicated yesterday that it expects the general government deficit will equal €19bn, or 5.5% of GDP in 2020. The Government deficit forecast is at €19bn.

This is well inside the €21.6bn (6.2% of GDP) forecast in October’s Budget (and €20.5bn,or 5.7% of GDP,in 2021). Ireland’s deficit will now clearly be one of the lowest in the EU this year. 

Davy Stockbrokers say the better starting point for the deficit will also provide the Irish government with room for manoeuvre should it wish to extend fiscal supports in 2021.

Source: www.businessworld.ie

More articles from Financial

image Description

June spending drops as consumers reduce social and retail activity

Read more
image Description

One third of Irish households say they are just making ends meet

Read more
image Description

Consumer prices in Ireland second highest in EU

Read more
image Description

Public finances return to balance as tax revenues boom

Read more
image Description

Irish firms scale back expectations for business activity and hiring

Read more