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€1.6bn Exchequer surplus recorded in January

Written by Robert McHugh, on 5th Feb 2019. Posted in Politics

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Exchequer Returns published yesterday show that Ireland recorded an Exchequer surplus of €1,643 million in January, up 7% year on year (yoy).

Within this improvement, total revenue increased by 12% yoy, driven by strong growth in VAT (12%) and income tax receipts (8%). On the other hand, total expenditure increased by 8% in the 12 months to January, with voted gross current spending increasing by 7% yoy to €4,911 million.

According to Goodbody Stockbrokers, "One should not read too much into one month’s data, but January brought a continuation of the trends of recent years, strong revenue growth accompanied by an increase in spending."

Source: www.businessworld.ie

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