Friday July 10, 2020

GDP growth slashes debt and deficit figures

Higher tax revenues also helped, CSO reports

13th July, 2016
CSO figures show debt levels dropping Pic: Pixabay

Official figures show that the general government deficit fell last year to 1.8 per cent of gross domestic product, a big improvement from the 3.7 per cent deficit recorded in 2014.

The CSO said the growth in GDP, as well an increase of almost €5 billion, or 7 per cent, in government revenue, had been the main factors in reducing the deficit. €4.3 billion in additional taxes was raised last year.

Separate CSO figures for the first three months...

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