Economy

Government expecting exchequer surplus of €16 billion next year

Total figure however will be scaled back to €4.4 billion once windfall corporation taxes are excluded

Minister for Finance Michael McGrath: The stability programme update is published every April to give an early indication of the state of the public finances before the October budget. Picture: RollingNews.ie

Around 40,000 extra jobs will be generated this year despite the “powerful headwinds” facing the Irish economy, according to the latest budgetary update.

The stability programme update from the Department of Finance predicts that the workforce in Ireland will increase from 2.547 million people last year to 2.588 million this year.

The update said that despite the “powerful headwinds” faced over the past year from the Russian invasion of Ukraine, Brexit and rising interest rates, ...