Covid-19 spending pushes state into €19bn budget deficit

Tax take drops less than expected to €57 billion, which lessens the impact of the pandemic on the state’s finances

5th January, 2021
Covid-19 spending pushes state into €19bn budget deficit
Paschal Donohoe, the Finance Minister, said it was too early to tell what impact the move to level 5 restrictions would have on the deficit this year. Picture:

The state swung to a deficit of €19 billion last year as it spent huge sums of money fighting the damage brought on the economy by the Covid-19 pandemic.

New figures released by the Department of Finance today show the state spent almost €18 billion more in 2020 compared to the previous year. This was mostly due to a surge in social welfare payments, as hundreds of thousands of workers were forced to claim employment...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Analysis: This may prove to be Ireland’s deadliest week of the pandemic

Coronavirus Rachel Lavin 15 hours ago

Comment: Welcome to the era of ‘pandemic pump politics’

Home Michael Brennan 2 days ago

Foreign nurses prevented from coming to Ireland due to visa delays

Susan O’Keeffe: Vaccination programme needs to be treated as a national emergency