Ireland’s Exchequer deficit at the end of August was €11.3 billion, down €9.1 billion on the €20.4 billion deficit recorded at the end of August 2011.
The main driver behind the large reduction was lower capital expenditure due to the settlement of the 2012 IBRC promissory note payment with a Government bond and the fact that July 2011 banking recapitalisation payments increased non-voted capital expenditure significantly last year.
The Exchequer position is also improved by increased...
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